Gross Domestic Product

Indonesia’s economic growth is increasing massively amidst the weak global economy and financial market turmoil putting heavy pressure. In Q1 2024, the economy grew 5,11% (year on year). The main contributor to its growth was strong demand aggregate and budget support as a shock absorber decreasing unemployment rate (Cabinet Secretariat of Republic Indonesia 2024). During the first quarter of 2024, the provincial group in Java Island still showed its spatial influence in the Indonesian economy by recording a role of 57.70 percent despite experiencing a slowdown in growth of 4.84 percent compared to the first quarter of 2023 (year on year) (BPS 2024). read more