Indonesia’s economy 2024

Admin
Feb 28, 2025

Resilient growth amid challenges

Indonesia’s economy continued to expand in 2024 despite global uncertainties, with GDP reaching $1,396.8 billion and 5.03% growth.

Indonesia's economy 2024

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The transportation, warehousing, accommodation, and F&B sectors are key drivers, while manufacturing faces headwinds. Cimigo predicts that GDP growth in 2025 will reach 5.1%. A slightly better position, but not by much.

Retail sales and consumer spending

The real retail sales index grew 3.8% year over year, led by food, beverages, tobacco, and automotive fuels.

Real retail sales index Indonesia 2024

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However, consumer confidence has weakened, with Cimigo’s survey showing a downward trend in optimism about the economy.

Job market and inflation

While job availability improved slightly, many still struggle, potentially due to weak hiring in manufacturing. Inflation remains stable, maintaining purchasing power and investment confidence.

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Investment and 2025 outlook

Foreign Direct Investment (FDI) should be crucial, but investors are somewhat cautious. Manufacturing may recover gradually, consumer spending is expected to strengthen, and inflation will likely remain controlled.

Looking ahead to 2025

Indonesia’s economy in 2024 remains resilient, with steady GDP growth and retail sector expansion. However, consumer confidence, manufacturing struggles, and job market concerns require attention. 2025 will be a year of cautious optimism as the country adapts to political and economic shifts.

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