Indonesia's Economic Growth Slows in 2024

Economics & Macro

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Nabilah Muhamad 06/02/2025 12:00 WIB

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BPS reported that Indonesia's economic growth in 2024 reached 5.03%, a slowdown compared to the previous year.

Indonesia's Cumulative Annual Economic Growth (2014-2024)

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Indonesia's Cumulative Annual Economic Growth (2014-2024)

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According to the Central Statistics Agency (BPS) report, in 2024 Indonesia's economic growth reached 5.03% (cumulative-to-cumulative/ctc).

Growth slowed compared to 2023, which reached 5.05% (ctc), and fell below the 2024 State Budget target of 5.2%.

From the production side, the highest economic growth in 2024 occurred in the other services sector, at 9.80% (ctc).

From the expenditure side, the highest growth was in non-profit institutions serving households (NPISH) consumption expenditure, at 12.48% (ctc).

Indonesia's Gross Domestic Product (GDP) at current prices in 2024 reached Rp22,139 trillion, with a per capita GDP of Rp78.6 million or US$4,960.3 per capita.

Indonesia's GDP at constant prices in 2024 amounted to Rp12,920 trillion.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."