Indonesia's economy unexpectedly contracted 0.42% qoq in Q4 2020, missing market consensus of a 0.7% growth and reversing from a record expansion of 5.05% in Q3, amid COVID-19 pandemic, with authorities imposing a second round of mobility curbs in capital Jakarta during September and October 2020. External demand contributed negatively to the GDP, as exports rose by 2.41% (vs 12.14% in Q3) while imports grew much faster 16.28% (vs -0.08%). In addition, private consumption was somewhat sluggish (0.49% vs 4.7 in Q3), with fixed investment slowing sharply (4.19% vs 8.45%). Meantime, government spending growth accelerated strongly (27.15% vs 16.93%). On the production side, activity fell for agriculture, forestry and fisheries (-20.15% vs 1.01%), manufacturing (-0.38 vs 5.25%), and wholesale trade, retail (-0.87% vs -5.68%). In addition, output growth eased for mining (1.65% vs 1.72%), construction (3.48% vs 5.72%), and transportation and warehouse (5.08% vs 24.28%). source: Statistics Indonesia

GDP Growth Rate in Indonesia averaged 1.25 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 February 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 2.50 in 12 months time. In the long-term, the Indonesia GDP Growth Rate is projected to trend around 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
-0.42 5.05 5.05 -4.19 2005 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
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 5.05% -4.19% 5.34% 5%
2021-02-05 02:00 AM Q4 -0.42% 5.05% 0.7% 1%
2021-05-05 04:00 AM Q1 -0.42%
2021-08-05 04:00 AM Q2
2021-11-05 04:00 AM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Indonesia Quarterly GDP Unexpectedly Shrinks
Indonesia's economy unexpectedly contracted 0.42% qoq in Q4 2020, missing market consensus of a 0.7% growth and reversing from a record expansion of 5.05% in Q3, amid COVID-19 pandemic, with authorities imposing a second round of mobility curbs in capital Jakarta during September and October 2020. External demand contributed negatively to the GDP, as exports rose by 2.41% (vs 12.14% in Q3) while imports grew much faster 16.28% (vs -0.08%). In addition, private consumption was somewhat sluggish (0.49% vs 4.7 in Q3), with fixed investment slowing sharply (4.19% vs 8.45%). Meantime, government spending growth accelerated strongly (27.15% vs 16.93%). On the production side, activity fell for agriculture, forestry and fisheries (-20.15% vs 1.01%), manufacturing (-0.38 vs 5.25%), and wholesale trade, retail (-0.87% vs -5.68%). In addition, output growth eased for mining (1.65% vs 1.72%), construction (3.48% vs 5.72%), and transportation and warehouse (5.08% vs 24.28%).
2021-02-05
Indonesia Quarterly GDP Grows for First Time in 4 Quarters
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%).
2020-11-05
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 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.