Indonesia’s third‑quarter GDP surprised analysts by expanding faster than expected. Understanding why the growth exceeded forecasts shows how different parts of the economy can combine to lift overall performance.

Official data showed Indonesia recorded 5.47% GDP growth in Q3, beating the 5.18% forecast in a Reuters poll and the 5.29% growth seen in Q2. The higher number signals a stronger finish to the year than many had anticipated.

Exports of goods and services grew 4.59% in Q3, up from 4.13% in Q2, helped by higher palm‑oil product exports and more foreign tourists, senior Statistics Indonesia official Edy Mahmud said. At the same time, import growth slowed to 7.31% from 8.82%, reducing the drag on GDP.

Household consumption grew 5.04% in Q3, remaining roughly unchanged from the previous quarter, according to Statistics Indonesia. Government spending expanded by 8.95% in July‑September, far slower than the nearly 16% growth recorded in the prior quarter.

Inventories rose sharply across sectors, especially unsold cars and motorbikes, indicating precautionary stockpiling, said Faisal Rachman, an economist at Bank Permata. Windhiarso Ponco Adi noted the biggest rise was in those vehicle stocks, suggesting firms were building buffers against possible supply risks.