Indonesia's domestic economy grew by five percent in 2017, pushing its Gross Domestic Product (GDP) past the US$1 trillion mark for the first time in history. This further solidifies Indonesia's position as the largest economy in Southeast Asia.
Based on data from the Central Bureau of Statistics (BPS), Indonesia's GDP last year, measured at current prices, reached Rp 13,588.8 trillion, equivalent to US$1.003 trillion using Bank Indonesia's mid-rate of Rp 13,548 per US dollar. Indonesia's current GDP now surpasses that of the Netherlands, Turkey, and Switzerland.
Over the past ten years, Indonesia's GDP has increased by US$551 trillion or 121.94% from its 2008 level. Indonesia's GDP (in US dollars) experienced a 12% decline in 2013 due to the weakening of the Rupiah from Rp 9,670 per US dollar to Rp 12,189. Similarly, in 2015, the Indonesian economy contracted by 1.7% as a result of the Rupiah depreciating from Rp 12,440 per US dollar to Rp 13,795 per US dollar.