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.