# Indonesia to miss boost from commodity boom as Jokowi’s term winds down | articles | ING THINK

> ING forecasts Indonesian GDP growth of 5.3% in 2022, with momentum slowing in 2023 as the commodity boom fades and inflation accelerates. Bank Indonesia projects 2023 growth between 4.7% and 5.5%, and trade surpluses from 2022 commodity prices are expected to narrow.

- Date: 2023-01-09 · published 2023-01-09T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/38103-indonesia-to-miss-boost-from-commodity-boom-as-jokowi-s-term-winds-down
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Fading commodity export revenue and slower trade momentum could pressure the rupiah, shaping the cost outlook for Indonesian feed and food importers.

## Read by commodity

- USDIDR: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-08-17 | [Malaysia: A huge downside GDP miss in the second quarter \| articles \| ING THINK](https://feedsoft.ai/events/63777-malaysia-a-huge-downside-gdp-miss-in-the-second-quarter-articles-ing-think.md) | +0.1% | -0.3% |
| PALMOIL | 2020-05-27 | [Malaysia macro update – It’s downtime \| articles \| ING THINK](https://feedsoft.ai/events/53394-malaysia-macro-update-it-s-downtime-articles-ing-think.md) | +12.9% | +16.5% |
| PALMOIL | 2018-10-03 | [Indonesian rupiah falls to record low amid rising pressures \| The Straits Times](https://feedsoft.ai/events/62836-indonesian-rupiah-falls-to-record-low-amid-rising-pressures-the-straits-times.md) | +1.6% | +1.4% |
| PALMOIL | 2022-07-31 | [Menkeu: Resesi AS Berdampak ke Ekonomi Indonesia](https://feedsoft.ai/events/40800-menkeu-resesi-as-berdampak-ke-ekonomi-indonesia.md) | -2.4% | +3.3% |
| PALMOIL | 2025-06-01 | [Ringgit slips against US dollar as US Fed flags inflation worries](https://feedsoft.ai/events/24948-ringgit-slips-against-us-dollar-as-us-fed-flags-inflation-worries.md) | +2.3% | +3.8% |

## Sources

- think.ing.com: https://think.ing.com/articles/indonesia-likely-missing-boost-from-commodity-boom-as-jokowi-term-winds-down/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.