Indonesia's Q2 2024 GDP growth slowed to 5.05% due to weakened external demand amid global economic slowdown.

Indonesia's economy experienced a slight slowdown in Q2 2024, with an annual growth rate of 5.05%, down from 5.11% in the previous quarter and 5.17% a year earlier. The growth was supported by domestic activities, while export performance declined due to weakened external demand amid a global economic slowdown. However, the nation maintained a solid pace of growth, with both export value and volume increasing for several commodities, and domestic demand remaining strong, mainly due to increased spending during religious holidays and harvest seasons.

August 05, 2024
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