Indonesia's economy shrank by 2.19% in the fourth quarter of 2020, worse than market consensus of a 2% contraction and after a 3.49% fall in the previous period. It was the third straight quarter of contraction amid the coronavirus pandemic. Household consumption fell 3.61% (vs -4.05% in Q3) while fixed investment contracted 6.15% (vs -6.48% in Q3) and external demand contributed negatively to the GDP, as both exports and imports declined. Meanwhile, government spending expanded 1.76% (vs 9.76% in Q3). On the production side, output contracted mainly for mining (-1.20% vs -4.28%), manufacturing (-3.14% vs -4.34%), construction (-5.67% vs -4.52%), wholesale trade, retail (-3.64% vs -5.05%), transportation and warehouse (-13.42% vs -16.71%). By contrast, output grew for communication (10.91% vs 10.72%). For the 2020 full year, the GDP contracted by 2.07%, the steepest decline since the 1998 Asian financial crisis, reversing from a 5.02% growth in 2019. source: Statistics Indonesia
GDP Annual Growth Rate in Indonesia averaged 4.91 percent from 2000 until 2020, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of -5.32 percent in the second quarter of 2020. This page provides - Indonesia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
GDP Annual Growth Rate in Indonesia is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Indonesia to stand at 3.50 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.