Indonesian Journal of Contemporary Multidisciplinary Research
Vol. 4 No. 1 (2025): January 2025

Forecasting Indonesia's Gross Domestic Product Using Extreme Learning Machine and Double Exponential Smoothing

Bria, Anggelina Yuniance (Unknown)
Miswanto (Unknown)
Biyanto, Frasto (Unknown)
Siregar, Baldric (Unknown)



Article Info

Publish Date
09 Jan 2025

Abstract

Gross Domestic Product (GDP) is one of the main indicators used to measure the economic condition of a country. Stable economic growth is crucial for achieving societal well-being; however, there are various factors that influence GDP fluctuations. Internal factors, such as ineffective fiscal and monetary policies, as well as external factors like changes in global economic conditions and geopolitical instability, can lead to instability in GDP growth. To improve GDP stability, appropriate fiscal and monetary policies, infrastructure investments, productivity enhancement, and the promotion of industry and the creative economy are necessary. This study employs two forecasting methods, namely Extreme Learning Machine (ELM) and Double Exponential Smoothing (DES), to analyze and predict economic growth based on historical GDP data. The results show that both methods can be used effectively to predict GDP growth, with ELM demonstrating superior ability in producing more accurate forecasts. By applying the right methods, it is expected that stable GDP growth can be achieved, leading to improved societal well-being and advancing the nation's progress.

Copyrights © 2025






Journal Info

Abbrev

modern

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

Description

Indonesian Journal of Contemporary Multidisciplinary Research (MODERN) is an open-access, double-blind peer-reviewed journal. MODERN is intended to be a multidisciplinary journal for all fields with contemporary methods and techniques in all levels of education, social science, business, and ...