On February 5, local time, Indonesia released official data saying that due to the weakness of export business, the Indonesian economy will grow by 5% year-on-year in 2023..05%, compared to 2022 5.31% slower than the growth rate。Data show that household consumption, which accounts for more than half of Indonesia's gross domestic product (GDP), will grow by 4% in 2023..82%, slightly lower than 4 in 2022.94%。

However, Indonesia's export business grew by only 1.32%, compared to 16 in 2022.23% compared to a significant decline。Indonesia is a major producer of commodities such as coal, palm oil and nickel, but the sharply heating up Russian-Ukrainian war in 2022 and the post-epidemic economic recovery have led to a spike in commodity prices that will not decline until 2023.。

Amalia Adininggar Widyasanti, acting director of the Indonesian Bureau of Statistics, said: "The global economic slowdown is one of the reasons for the lack of momentum in Indonesia's economic growth; in addition, extreme weather phenomena such as El Niño have hampered the operations of the agricultural sector, especially in the second half of 2023.。From the production side, China's economic growth in 2023 will mainly benefit from the processing industry, trade, transportation and warehousing, and information and communication industries.。"

Under the influence of some specific factors, some provinces in Indonesia have seen significant growth。For example, North Maluku and Central Sulawesi provinces, which serve as Indonesia's nickel production centers, recorded a rise in metalworking activity during the year of 20.49% and 11.Surprising 91% growth。

East Kalimantan is home to Indonesia's future capital, Nusantara, which the country plans to move from its current Jakarta location in August 2024.。As a result, developments in the new capital have made local building activity particularly active in 2023, growing by 15%..82%, East Kalimantan also thus to 6.22% growth rate successfully ranked third in the country。

The report also shows that Indonesia's GDP from October to December 2023 grew by 5.04%, up from 4% in the previous quarter (July to September)..94%, compared with the previous poll forecast of 5.0% median consistent。

Darren Tay, head of Asian country risk at BMI, a unit of Fitch Group, noted that weak export business continued to weigh on fourth quarter performance due to sluggish global demand。He said: "Today, a further slowdown in the global economy makes it very unlikely that Indonesia's export growth will turn around.。BMI expects Indonesia's economy to grow by 5% in 2024.0%。"

Indonesia's central bank had forecast that the country's economy would grow by 4% in 2023..5% to 5.3%; and GDP growth is expected to accelerate to 4% in 2024, driven by rising consumption and investment and the benefits of the construction of the new capital..7% to 5.Between 5%。