Indonesia's economy contracted 0.96% qoq in Q1 2021, compared with market consensus of a 1.04% decline and after a 0.42% fall in Q4. This was the second straight quarterly contraction, amid the prolonged impact of the COVID-19 crisis. There were falls in private consumption (-0.58% vs 0.49% in Q4), government spending (-43.35 percent vs 27.15%), and fixed investment (-2.21% vs 4.19%). In contrast, external demand contributed positively to the GDP, as exports rose by 7.83% (vs 2.41% in Q4) while imports grew at a softer 6.47% (vs 16.28%). On the production side, activity fell for mining (-1.56% vs 1.65%), construction (-2.1% vs 3.48%), transport and warehouse (-6.05% vs 5.08%), accommodation, food & beverages (-1.8% vs 5.86%), insurance & financial services (-0.18% vs 5.61%), and health & social activities (-10.1% vs 5.78%). On the other hand, output grew for agriculture (0.81% vs -20.15%), manufacturing (0.61% vs -0.38%), and wholesale trade, retail (1.07% vs -0.87%). source: Statistics Indonesia

GDP Growth Rate in Indonesia averaged 1.22 percent from 2005 until 2021, 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 July of 2021.

GDP Growth Rate in Indonesia is expected to be 3.50 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 -0.50 in 12 months time. In the long-term, the Indonesia GDP Growth Rate is projected to trend around -1.60 percent in 2022 and -1.30 percent in 2023, according to our econometric models.

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Indonesia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.96 -0.42 5.05 -4.19 2005 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
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 -0.96% -0.42% -1.04% -1%
2021-08-05 04:00 AM Q2 -0.96%
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 Economy Shrinks 0.96% QoQ in Q1
Indonesia's economy contracted 0.96% qoq in Q1 2021, compared with market consensus of a 1.04% decline and after a 0.42% fall in Q4. This was the second straight quarterly contraction, amid the prolonged impact of the COVID-19 crisis. There were falls in private consumption (-0.58% vs 0.49% in Q4), government spending (-43.35 percent vs 27.15%), and fixed investment (-2.21% vs 4.19%). In contrast, external demand contributed positively to the GDP, as exports rose by 7.83% (vs 2.41% in Q4) while imports grew at a softer 6.47% (vs 16.28%). On the production side, activity fell for mining (-1.56% vs 1.65%), construction (-2.1% vs 3.48%), transport and warehouse (-6.05% vs 5.08%), accommodation, food & beverages (-1.8% vs 5.86%), insurance & financial services (-0.18% vs 5.61%), and health & social activities (-10.1% vs 5.78%). On the other hand, output grew for agriculture (0.81% vs -20.15%), manufacturing (0.61% vs -0.38%), and wholesale trade, retail (1.07% vs -0.87%).
2021-05-05
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 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.