Indonesia GDP growth slows to 4.94% in Q3 as exports decline

Domestic demand helps grow economy as commodity prices fall

A market in in Jakarta: Indonesia's economy grew on robust consumer spending in the July to September quarter, the country's statistics agency said on Nov. 6. © AFP/Jiji

NANA SHIBATA and ISMI DAMAYANTI, Nikkei staff writers

November 6, 2023 13:15 JST

Updated on November 6, 2023 17:34 JST

JAKARTA -- Indonesia's gross domestic product rose 4.94% in the July to September quarter from a year earlier, the country's statistics agency said Monday, marking the weakest growth in two years as exports fell.

The latest figure fell short of the 5.05% growth forecast in a recent economist poll by Reuters and slowed from the 5.17% expansion in the April to June quarter.