Indonesia's annual economic growth eased to 2.97 percent in the first quarter of 2020, the weakest pace since the first quarter of 2001 and well below market consensus of 4.04 percent, as the country started closing schools and offices in late March to contain the rapid spread of the coronavirus pandemic. Household consumption advanced 2.84 percent (vs 4.97 percent in Q4) and fixed investment increased 1.70 percent (vs 4.06 percent in Q4). On the other hand, government spending expanded at a faster pace (3.74 percent vs 0.48 percent) and external demand contributed positively to the GDP, as exports rose slightly while imports dropped. Finance Minister Sri Mulyani Indrawati has flagged a risk of recession and a full-year GDP contraction of 0.4 percent, while Indonesia's top economic affairs minister Airlangga Hartarto said the government was maintaining its 2.3 percent annual growth target for 2020.
GDP Annual Growth Rate in Indonesia averaged 5.24 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 1.56 percent in the fourth quarter of 2001. 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 June of 2020. source: Statistics Indonesia
GDP Annual Growth Rate in Indonesia is expected to be -3.10 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 5.20 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 5.20 percent in 2021 and 5.30 percent in 2022, according to our econometric models.