Indonesia's gross domestic product shrank 1.69 percent quarter-on-quarter in the December quarter of 2018, after a 3.09 percent growth in the previous quarter and compared to market consensus of a 1.75 percent decline. It marked the first quarterly contraction since the March quarter of the year, as private consumption was sluggish while net exports contributed negatively to the GDP. GDP Growth Rate in Indonesia averaged 1.38 percent from 2005 until 2018, reaching an all time high of 4.21 percent in the second quarter of 2018 and a record low of -3.57 percent in the fourth quarter of 2008.

GDP Growth Rate in Indonesia is expected to be -0.30 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 -0.90 in 12 months time. In the long-term, the Indonesia GDP Growth Rate is projected to trend around -0.80 percent in 2020, according to our econometric models.

Indonesia GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-05-07 04:00 AM GDP Growth Rate QoQ -0.42% -1.7% -0.3% -0.32%
2018-08-06 04:00 AM GDP Growth Rate QoQ 4.21% -0.41% 4.08% 2.4%
2018-11-05 04:00 AM GDP Growth Rate QoQ 3.09% 4.21% 3.07% 3.5%
2019-02-06 04:00 AM GDP Growth Rate QoQ -1.69% 3.09% -1.75% -1.4%
2019-05-06 04:00 AM GDP Growth Rate QoQ -1.69% -0.3%
2019-08-05 04:00 AM GDP Growth Rate QoQ 3.3%
2019-11-05 04:00 AM GDP Growth Rate QoQ 2.6%



Indonesia Quarterly GDP Contracts for First Time in 3 Quarters

Indonesia's gross domestic product shrank 1.69 percent quarter-on-quarter in the December quarter of 2018, after a 3.09 percent growth in the previous quarter and compared to market consensus of a 1.75 percent decline. It marked the first quarterly contraction since the March quarter of the year, as private consumption was sluggish while net exports contributed negatively to the GDP.

On the expenditure side, private consumption edged up 0.09 percent, far lower than a 3.24 percent growth in the September quarter, and net external demand contributed negatively to the GDP as imports rose 2.96 percent  (vs 7.87 percent in the third quarter) while exports declined 2.22 percent (vs 8.66 percent in Q3). In addition, fixed investment grew much softer (3.80 percent vs 6.32 percent in Q3). Meanwhile, government spending jumped 37.72 percent, following a 6.36 percent increase in the September quarter.

On the production side, activity contracted for: agriculture, forestry and fishing (-21.41 percent vs 3.22 percent in Q3); mining and quarrying (-0.16 percent vs 0.31 percent); manufacturing (-1.16 percent vs 2.58 percent); wholesale and retail trade (-2.18 percent vs 3.05 percent); financial services & insurance (-0.02 percent vs 3.08 percent). Meantime, output grew less for: electricity and gas (1.46 percent vs 3.38 percent); water supply, sewerage, waste management and remediation activities (3.53 percent vs 3.79 percent); construction (4.6 percent vs 4.8 percent); transportation and storage (0.2 percent vs 2.42 percent); accommodation and food service (1.51 percent vs 1.68 percent); information and communication (0.4 percent vs 3.67 percent); real estate (0.91 percent vs 1.05 percent); business activities (1.76 percent vs 2.41 percent); and other services (1.47 percent vs 2.67 percent). Conversely, public administration (12.47 percent vs 3.07 percent); education services (11.45 percent vs 2.90 percent) and healthcare and social activities (5.98 percent vs 2.21 percent) posted stronger rises. 

Year-on-year, the economy advanced 5.18 percent in the fourth quarter, beating market expectations of a 5.11 percent growth and after a 5.17 percent expansion in the third quarter.

For 2018 the whole year, the economy expanded 5.17 percent, accelerating from a 5.07 percent growth in the prior quarter and slightly above estimates of a 5.15 percent advance. It was the strongest annual growth rate since 2013.


Statistics Indonesia l Rida Husna | rida@tradingeconomics.com
2/6/2019 10:57:02 AM



Indonesia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.69 3.09 4.21 -3.57 percent [+]
GDP Annual Growth Rate 5.18 5.17 7.16 1.56 percent [+]
GDP 1015.54 932.26 1015.54 5.67 USD Billion [+]
GDP Constant Prices 2638894.30 2684185.60 2684185.60 340865.20 IDR Billion [+]
Gross Fixed Capital Formation 914309.16 880795.44 914309.16 63970.10 IDR Billion [+]
GDP per capita 4130.66 3974.70 4130.66 656.70 USD [+]
GDP per capita PPP 11188.74 10766.40 11188.74 4625.40 USD [+]
GDP From Agriculture 46173.20 82570.60 88106.50 37282.50 IDR Billion [+]
GDP From Construction 277871.90 265639.90 277871.90 149919.00 IDR Billion [+]
GDP From Manufacturing 553239.30 559726.80 559726.80 371813.30 IDR Billion [+]
GDP From Mining 200377.20 200700.30 205685.00 171254.70 IDR Billion [+]
GDP From Services 48493.30 47654.30 48493.30 23736.80 IDR Billion [+]
GDP From Utilities 37882.20 36766.40 37882.20 14032.20 IDR Billion [+]


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. This page provides - Indonesia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1.69 3.09 4.21 -3.57 2005 - 2018 percent Quarterly




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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