Indonesia's economy shrank by 0.74% in the first quarter of 2021, matching market consensus and after a 2.19% fall in the previous period. It was the fourth straight quarter of decline in the economy and the weakest pace in the current sequence, amid the coronavirus pandemic. Both household consumption (-2.23% vs -3.61% in Q4) and fixed investment (-0.23% (vs -6.15%) declined less while external demand contributed positively to the GDP, as exports grew by 6.74 percent, while imports rose at a softer 5.27. Meanwhile, government spending expanded faster (2.96% (vs 1.76% in Q4). On the production side, output contracted mainly for transportation and warehouse (-13.12% vs -13.42%), accommodation and food services (-7.26%), mining (-2.02% vs -1.20%), manufacturing (-1.38% vs -3.14%), construction (-0.79% vs -5.67%), wholesale trade, retail (-1.234% vs -3.64%). Conversely, output grew for communication (8.72% vs 10.91%). source: Statistics Indonesia
GDP Annual Growth Rate in Indonesia averaged 4.84 percent from 2000 until 2021, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of -5.32 percent in the second quarter of 2020. 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 July of 2021.
GDP Annual Growth Rate in Indonesia is expected to be 6.50 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 4.50 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.