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%). source: Statistics Indonesia
GDP Growth Rate in Indonesia averaged 1.22 percent from 2005 until 2020, reaching an all time high of 4.21 percent in the second quarter of 2018 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 October of 2020.
GDP Growth Rate in Indonesia is expected to be 2.70 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.