Indonesia's Economic Growth is the Third Highest in the G20 Group

Economics & Macro

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Cindy Mutia Annur 08/08/2023 17:30 WIB

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Indonesia's economy grew by 5.17% (year-on-year) in the second quarter of 2023. This is the third-highest growth among G20 member countries.

Economic Growth of G20 Member Countries (Second Quarter 2023)*

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Economic Growth of G20 Member Countries (Second Quarter 2023)*

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Based on data from the Central Bureau of Statistics (BPS), Indonesia's Gross Domestic Product (GDP) grew by 5.17% year-on-year (yoy) in the second quarter of 2023.

This achievement marks seven consecutive quarters of Indonesian economic growth above 5% (yoy).

"Compared to other countries, Indonesia's economic growth is very strong, with controlled inflation," said Coordinating Minister for Economic Affairs Airlangga Hartarto, as quoted by CNNIndonesia.com on Monday (7/8/2023).

According to Trading Economics data, Indonesia's economic growth in Q2 2023 was the third highest among G20 member countries.

In the G20 group, China achieved the highest GDP growth in Q2 2023, at 6.3% (yoy). India was second with GDP growth of 6.1% (yoy).

Below Indonesia were Brazil and Turkey, with economic growth of 4% (yoy) each.

Next were Mexico, the United States, Australia, and Canada, with economic growth of 3.7%, 2.6%, 2.3%, and 2.21% (yoy) respectively.

Several G20 countries also experienced economic growth despite a slowdown, including South Korea, Italy, South Africa, and the United Kingdom.

Meanwhile, Russia and Germany recorded negative growth with contractions of 1.8% and 0.2% (yoy) respectively.

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."

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Indonesia's Economic Growth is the Third Highest in the G20 Group

Indonesia's Economic Growth is the Third Highest in the G20 Group

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Indonesia's Economic Growth is the Third Highest in the G20 Group

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