BAREKENG: Jurnal Ilmu Matematika dan Terapan
Vol 18 No 2 (2024): BAREKENG: Journal of Mathematics and Its Application

APPLICATION OF ARIMA MODEL FOR FORECASTING NATIONAL ECONOMIC GROWTH: A FOCUS ON GROSS DOMESTIC PRODUCT DATA

Sinu, Elisabeth Brielin (Unknown)
Kleden, Maria A (Unknown)
Atti, Astri (Unknown)



Article Info

Publish Date
25 May 2024

Abstract

This study aims to apply the Autoregressive Integrated Moving Average (ARIMA) model to predict national economic growth, specifically focusing on Gross Domestic Product (GDP) data. GDP data were collected from 2012 to 2023, categorized into training data for the period 2012-2022 and testing data for the year 2023. Utilizing the training data, the research findings indicate that the ARIMA (0,1,0) (0,0,1) model emerges as the most effective in forecasting Indonesia's GDP on a quarterly basis, considering current prices. Subsequently, the model was tested on the 2023 dataset, and it demonstrated accurate predictions aligned with patterns and trends identified during the training phase. The outcomes of this research contribute significantly to the field of economic forecasting in Indonesia, particularly in understanding and predicting the quarterly developments of GDP. The proposed ARIMA model can serve as an effective tool for decision-makers and economic analysts to strategically plan for future economic dynamics on a quarterly basis.

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Journal Info

Abbrev

barekeng

Publisher

Subject

Computer Science & IT Control & Systems Engineering Economics, Econometrics & Finance Energy Engineering Mathematics Mechanical Engineering Physics Transportation

Description

BAREKENG: Jurnal ilmu Matematika dan Terapan is one of the scientific publication media, which publish the article related to the result of research or study in the field of Pure Mathematics and Applied Mathematics. Focus and scope of BAREKENG: Jurnal ilmu Matematika dan Terapan, as follows: - Pure ...