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Indonesia's GDP grows 5.03 pct in 2024

Source: Xinhua | 2025-02-05 | Editor:Ines

Indonesia recorded a gross domestic product (GDP) growth rate of 5.02 percent in the fourth quarter of 2024, which brought the Southeast Asian country to post a 5.03 percent economic growth throughout last year, Statistics Indonesia (BPS) announced on Wednesday.

Amalia Adininggar Widyasanti, acting head of BPS, said in a press conference that Indonesia's economy in 2024, as measured by GDP at current prices, reached 22,139 trillion rupiahs (around 1.35 trillion U.S. dollars) and GDP per capita reached 78.6 million rupiahs or 4,960.3 U.S. dollars.

"The growth was mainly supported by a growing public consumption. Household consumption has been growing positively, which shows an improvement in people's purchasing power, particularly during the Christmas and New Year holiday moments. All business fields grew positively throughout 2024," Widyasanti said in Jakarta.

The annual growth was higher than what was previously predicted by Indonesian Minister of Finance Sri Mulyani Indrawati that the growth would remain stagnant at 5 percent. 

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