Indonesia GDP 2024 +5%

According to data from Statistics Indonesia, the country’s economy grew by 5 per cent in 2024.

Southeast Asia's largest economy expanded by 5 per cent in the fourth quarter of 2024, while on a quarterly basis, GDP increased by 0.5 per cent.

GDP growth was largely driven by exports of goods and services, which increased by 7.6 per cent in the fourth quarter, while imports grew by 10.4 per cent.

Household consumption, which accounts for more than half of GDP, grew by 5 per cent year-on-year, supported by spending on transportation, food, restaurants, and hotels. On the production side, the main contributors to growth were mining, manufacturing, construction, and trade.

Investments grew by 5 per cent year-on-year in the October-December quarter, supported by new projects in the new capital city and other infrastructure developments.

In its latest outlook, the International Monetary Fund estimated Indonesia’s GDP growth rate to be 5.1 per cent for 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten member states, with a population of 667 million people and a territory of 4.5 million km². It is currently the third-largest economy in the Asia-Pacific region and the fifth-largest in the world. The ASEAN Economic Community (AEC) had a combined GDP of USD 4.2 trillion in 2024, according to estimates.