Indonesia's economy shrank 4.19% qoq in Q2 2020, compared with market estimates of a 3.49% decline and after a 2.4% drop in Q1. This was the third straight quarter of contraction and the steepest on a quarterly record, amid the fallout triggered the COVID-19 crisis. There were faster declines in both private consumption (-6.51% vs -1.99% in Q1), and fixed investment (-9.71% vs -7.89%). In addition, both exports and imports slumped. Meanwhile, government spending rose by 22.32%, after a 44.01% plunge in Q1. On the production side, activity contracted further for mining (-3.75% vs -0.73%), manufacturing (-6.49% vs -1.17%), construction (-7.37% vs -6.92%), wholesale trade, retail (-6.71% vs -1.38%), transportation and warehouse (-29.22% vs -6.37%), accommodation, food & beverages (-22.31% vs -3.54%), business services (-14.11% vs -2.28%), and other services (-15.12 percent vs -1.19 percent). In contrast, output grew for communication (3.44% vs 2.97%).

GDP Growth Rate in Indonesia averaged 1.22 percent from 2005 until 2020, reaching an all time high of 4.21 percent in the second quarter of 2018 and a record low of -4.19 percent in the second quarter of 2020. This page provides - Indonesia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics Indonesia

GDP Growth Rate in Indonesia is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Indonesia to stand at 1.50 in 12 months time. In the long-term, the Indonesia GDP Growth Rate is projected to trend around 2.50 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Indonesia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-4.19 -2.41 4.21 -4.19 2005 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-05 04:00 AM Q3 3.06% 4.2% 3.05% 2.9%
2020-02-05 04:00 AM Q4 -1.74% 3.06% -1.67% -1.6%
2020-05-05 04:00 AM Q1 -2.41% -1.74% -1.27% -1.6%
2020-08-05 04:00 AM Q2 -4.19% -2.41% -3.49% -4%
2020-11-05 04:00 AM Q3 -4.19% 2.7%


News Stream
Indonesia Quarterly GDP Contracts at Record Pace
Indonesia's economy shrank 4.19% qoq in Q2 2020, compared with market estimates of a 3.49% decline and after a 2.4% drop in Q1. This was the third straight quarter of contraction and the steepest on a quarterly record, amid the fallout triggered the COVID-19 crisis. There were faster declines in both private consumption (-6.51% vs -1.99% in Q1), and fixed investment (-9.71% vs -7.89%). In addition, both exports and imports slumped. Meanwhile, government spending rose by 22.32%, after a 44.01% plunge in Q1. On the production side, activity contracted further for mining (-3.75% vs -0.73%), manufacturing (-6.49% vs -1.17%), construction (-7.37% vs -6.92%), wholesale trade, retail (-6.71% vs -1.38%), transportation and warehouse (-29.22% vs -6.37%), accommodation, food & beverages (-22.31% vs -3.54%), business services (-14.11% vs -2.28%), and other services (-15.12 percent vs -1.19 percent). In contrast, output grew for communication (3.44% vs 2.97%).
2020-08-05
Indonesia Quarterly GDP Contracts the Most in Over 11 Years
Indonesia's economy shrank 2.41 percent on quarter in the three months to March 2020, the steepest quarterly contraction since the last quarter of 2009 and compared to market consensus of a 1.27 percent slump. The COVID-19 crisis took a huge toll on the economy, with nonessential businesses being closed since mid-March. Negative contributions came from household consumption (-1.97 percent vs 0.04 percent), government spending (-44.2 percent vs 37.05 percent) and fixed investment (-7.89 percent vs 3.69 percent). In addition, both exports and imports tumbled. On the production side, activity contracted for manufacturing, utilities, construction, wholesale & retail trade, transport & warehouse, business services, accommodation, food & beverages, and education and others.
2020-05-05
Indonesia Quarterly GDP Falls More than Forecast
Indonesia's economy shrank 1.74 percent on quarter in the last three months of 2019, compared to market consensus of a 1.67 percent contraction and third-quarter growth of 3.06 percent. Net external demand contributed negatively to the GDP amid a decline in exports (-2.55 percent vs 11.06 percent in Q3) and an increase in imports (3.41 percent vs 6.17 percent), and private consumption showed no growth (0.04 percent vs 3.08 percent). Meanwhile, there were rises in both government consumption (37.05 percent vs -0.81 percent) and fixed investment (3.69 percent vs 5.98 percent). On the output side, agriculture activity fell by the most, followed by retail and wholesale trade, manufacturing and mining.
2020-02-05
Indonesia Economy Grows 3.06% QoQ in Q3
Indonesia's gross domestic product grew 3.06 percent quarter-on-quarter in the three months to September 2019, compared to market expectations of 3.05 percent and following a 4.20 percent expansion in the previous period. Growth was supported by private consumption, fixed investment and exports.
2019-11-05

Indonesia GDP Growth Rate
Indonesian economy is the largest in South East Asia. The country has been growing steady in the last few years mostly due to high domestic consumption and growth in exports of manufactured products and commodities.