Indonesia's economy advanced 5.05% qoq in Q3 2020, compared with market consensus of a 5.34% expansion and after a 4.19% contraction in Q2. This was the first quarterly growth since Q3 2019 and the strongest on record, as the economy recovered from the fallout triggered by the COVID-19 crisis. Both private consumption (4.7% vs -6.53% in Q2) and fixed investment (8.45% vs -9.71%) rebounded sharply, while government spending slowed (16.93% vs 22.33%). In addition, there was a strong upturn in exports (12.14% vs -12.83%), with imports falling much less (-0.08% vs -14.18%). On the production side, activity rebounded for mining (1.72% vs -3.75%), manufacturing (5.25% vs -6.49%), utilities (8.3% vs -7.89%), construction (5.72% vs -7.37%), wholesale trade, retail (5.68% vs -6.71%), transportation and warehouse (24.28% vs -29.18%) and finance and insurance services (2.59% vs -10.3%). source: Statistics Indonesia
GDP Growth Rate in Indonesia averaged 1.28 percent from 2005 until 2020, reaching an all time high of 5.05 percent in the third quarter of 2020 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 January of 2021.
GDP Growth Rate in Indonesia is expected to be 1.00 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.