Kedutaan Besar Republik Indonesia
Embassy of the Republic of Indonesia
Ambassade de la RÉpublique d'Indonésie

Indonesia Now among Countries with US$1tn GDP

TEMPO.CO,A�Jakarta – CIMB Niaga chief economist Adrian Panggabean said Indonesia enters 2018 with a new status. The country is now one of the world’s nations that has a gross domestic product (GDP) value of US$1 trillion.

In his review, Adrian wrote that there are only 16 out of 180 countries in the world that have an output above US$ 1 trillion.

As the world’s 15th largest territory and 4th largest population, the GDP value will support Indonesia in its efforts to strengthen its geo-economic and geopolitical positions.

“Last year, the GDP grew 5.1 percent, driven mainly by public consumption and investments,” he said last week.

Investments are also growing at a steady rate, driven by investments in the infrastructure and machinery sectors.

“Investment in 2017 grew at a rate of around 5.8 percent; much faster than in 2016,” he said.

For 2018, Adrian estimates Indonesia’s GDP to grow by 5.2 percent. He said there arena��t many growth catalysts expected to emerge this year. In terms of the state budget posturea��with an estimated fiscal deficit of 2.3 percent to the GDP, the 2018 State Budget looks more consolidative and populist as opposed to being expansive and populist.