Indonesia Economic Forecasts

Published monthly, Asia Pacific Consensus Forecasts offers a comprehensive outlook for the Indonesian economy; covering 13 macroeconomic variables over a 2 year forecast horizon. Forecasts are provided by leading economists whose individual views are shown together with the average (mean) forecast. In addition, our analysis includes 4 years of historical data for these same variables as well as written analysis and charts. Furthermore, the publication provides Consensus Forecasts™ for the Indonesian rupiah against the US dollar in 3, 12 and 24 months time.

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Indonesia

Nominal GDP for Indonesia was Rp16,971tn in 2021, down from Rp15,434tn in 2020. The Indonesian population was estimated at 273.8m in 2021 according to the IMF, while China is Indonesia’s biggest trading partner.

Variables Surveyed for Indonesia

Variables covered in our monthly analysis of Indonesia include:

Gross Domestic Product
Household Consumption
Gross Fixed Investment
Manufacturing Production
Consumer Prices
Money Supply
Non-Oil and Gas Exports

Merchandise Exports
Merchandise Imports
Trade Balance
Current Account Balance
Interest Rates
Rupiah Currency Forecasts

Consensus Forecasts for Indonesia

Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters” including the Asian Development Bank, IMF and OECD. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Asia Pacific Conensus Forecasts, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Indonesia on topics such as:

Quarterly Forecasts
Long-Term 5 and 10 Year Forecasts
Economic Policy Evaluation
Real Interest Rates and Foreign Direct Investment
Forecast Probabilities
Forecasts of Trade and Current Account Balances

Main Data Sources for Indonesia

Statistics Indonesia: Statistics Indonesia, is a non-departmental government institute of Indonesia that is responsible for conducting statistical surveys. Its main customer is the government, but statistical data is also available to the public.
Bank Indonesia: In its capacity as central bank, Bank Indonesia is mandated with one overarching goal, namely to create and maintain rupiah stability. Towards that goal, Bank Indonesia is tasked with managing the Monetary sector, Payment System and Financial System Stability, which are integrated to ensure the overarching goal is achieved effectively and efficiently.

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.

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