Towering office buildings in Jakarta are pictured on November 1, 2022. (Joanito De Saojoao)

Indonesia Reports Q3 Economic Growth of 5.72%

BY :THE JAKARTA GLOBE

NOVEMBER 07, 2022

Jakarta. The Indonesian economy grew by 5.72 percent in the third quarter of the year compared to the same period of 2021, the Central Statistics Agency (BPS) announced on Monday.

It’s the second-strongest quarterly growth since mobility and social restrictions were imposed due to the Covid-19 pandemic in early 2020.

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“The annual economic growth is trending up and heading to recovery,” BPS Chairman Margo Yuwono said in a news conference.

He said the Indonesian economic growth outpaced that of key trading partners such as China which recorded Q3 economic growth of 3.9 percent, the United States (1.8 percent), Singapore (4.4 percent), Taiwan (4.1 percent), and the European Union (2.4 percent).

The cumulative economic growth for the first nine months ending in September is 5.4 percent year-on-year, the agency reported.

The strongest quarterly growth during the pandemic is 7.07 percent in the second quarter of 2021, which ended contractions for four consecutive quarters.

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