Indonesia
Economic growth in Indonesia remains solid at 5.05% in 2023 despite global economic moderation.
Stronger economic growth was reflected regionally and in terms of sectoral performance. All sectors in the fourth quarter of 2023 performed positively, with high growth recorded by mobility-related sectors, particularly transportation and logistics, accommodation and food service activities as well as wholesale and retail trade. As the main contributor to growth, the manufacturing industry also expanded on strong domestic and global demand.
Spatially, economic growth accelerated in most regions of Indonesia in the fourth quarter of 2023 compared with conditions in the previous period, led by Sulawesi–Maluku–Papua (Sulampua), followed by Kalimantan, Java, Bali–Nusa Tenggara (Balinusra), and Sumatra.
In 2024, Bank Indonesia projects higher economic growth in the 4.7% to 5.5% range, bolstered by domestic demand, particularly consumption ahead of the upcoming general election, and increasing investment, specifically building investment given the ongoing national strategic projects (PSN), including the new capital city (IKN) development. Meanwhile, subdued export performance is projected as a corollary of global economic moderation and lower international commodity prices.
In Indonesia, BIMP-EAGA covers the provinces of Kalimantan, Sulawesi, the island chain of Maluku, and Papua.
West Kalimantan is part of the West Borneo Economic Corridor (WBEC), which also includes Brunei Darussalam and Sarawak and Sabah in Malaysia.
North Sulawesi is part of the Greater Sulu–Sulawesi Corridor (GSSC), which also includes Sabah in Malaysia, and Mindanao and Palawan in the Philippines.
BIMP-EAGA Officials and Contacts in Indonesia
BIMP-EAGA Signing Minister
Airlangga Hartarto
Coordinating Minister for Economic Affairs
Coordinating Ministry for Economic Affairs
Senior Official
Dr. Edi Prio Pambudi
Deputy Minister for International Economic Cooperation
Coordinating Ministry for Economic Affairs
National Secretariat
Madam Netty Muharni
Head of Indonesia National Secretariat for Sub Regional Economic Cooperation
Assistant Deputy Minister for Regional and Sub Regional Economic Cooperation
Coordinating Ministry for Economic Affairs
Mr. Irfan Adhitya Permadi
Head of APEC & Sub Regional Economic Cooperation Division
Office of the Assistant Deputy for Regional and Sub Regional Economic Cooperation
Coordinating Ministry for Economic Affairs
Mr. Sonny Ameriansah Soekoer
Head of Sub Regional Economic Cooperation Sub Division
Office of the Assistant Deputy for Regional and Sub Regional Economic Cooperation
Coordinating Ministry of Economic Affairs