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.