Indonesia’s Economic Growth Beats Forecast GDP Grows 5.44% In Q2

Indonesia’s economy grew by 5.44 percent in the second quarter of 2022 as compared to the same period last year (year-on-year/yoy), according to Statistics Indonesia.

Economic performance during the period was even better than that recorded before the pandemic and indicated that economic recovery since the second quarter of 2021 continues and is getting stronger.

“Economic growth this year has steadily increased. It started from the second quarter of 2021, the third quarter of 2021, the fourth quarter of 2021, the first quarter of 2022, and the second quarter of 2022, (the economy) continues to grow,” BPS Head Margo Yuwono noted here on Friday.

The 5.44-percent growth was contributed by the increase in gross domestic product at Current Prices and GDP at Constant Prices. In the second quarter of 2022, the GDP at ADHB was recorded at US$328 million (Rp4,919.9 trillion) an increase from the second quarter of 2021, at US$274 million (Rp4,176.4 trillion)

Yuwono said, as compared to the previous quarter (qtq), the domestic economy has grown by 3.72 percent.

“This growth is in line with the pattern of quarterly growth. Hence, the second quarter is always positive and higher than the first quarter, partly due to seasonal factors,” he stated.

Cumulatively, he remarked that Indonesia’s economy in the first half of 2022 was recorded to grow 5.23 percent as compared to the first half of last year. 

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