Indonesia's annual economic shrank by 3.49 percent in the third quarter of 2020, worse than market consensus of a 3 percent contraction and after a 5.32 percent fall in the previous period. It was the first economic recession since the 1998 Asian financial crisis, as the COVID-19 crisis took a huge toll on the economy. Household consumption fell 4.04 percent (vs -5.52% in Q2) while fixed investment decreased 6.48 percent (vs -8.61% in Q2) and external demand contributed negatively to the GDP, as both exports and imports dropped. Meanwhile, government spending expanded 9.76 percent (vs -6.90% in Q2). On the production side, output contracted for mining (-4.28% vs -2.72%), manufacturing (-4.31% vs -6.19%), construction (-4.52% vs -5.39%), wholesale trade, retail (-5.03% vs -7.57%), transportation and warehouse (-16.70% vs -30.80%), accommodation, food & beverages (-11.86% vs -22.02%). By contrast, output grew for communication (10.61% vs 10.83%). source: Statistics Indonesia
GDP Annual Growth Rate in Indonesia averaged 5 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 -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 December of 2020.
GDP Annual Growth Rate in Indonesia is expected to be 1.10 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 6.00 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021 and 5.50 percent in 2022, according to our econometric models.