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.

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Indonesia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.49 -5.32 7.16 -5.32 2000 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-05 04:00 AM YoY Q4 4.97% 5.02% 5.04% 5.1%
2020-05-05 04:00 AM YoY Q1 2.97% 4.97% 4.04% 3.6%
2020-08-05 04:00 AM YoY Q2 -5.32% 2.97% -4.61% -4.9%
2020-11-05 04:00 AM YoY Q3 -3.49% -5.32% -3% -3.2%
2021-02-05 04:00 AM Full Year GDP Growth 2020 -1.5%
2021-02-05 04:00 AM YoY Q4 -3.49% 1.1%
2021-05-05 04:00 AM YoY Q1
2021-08-05 04:00 AM YoY Q2
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Indonesia Economy Enters Recession in Q3
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%).
2020-11-05
Indonesia Economy Shrinks More than Expected
Indonesia's annual economic shrank by 5.32 percent in the second quarter of 2020, worse than market consensus of 4.61 percent contraction. It was the first contraction in the economy since 1999, as public health measures to contain the coronavirus crisis hit the economy. Household consumption fell 5.51 percent (vs 2.83 percent in Q1) and fixed investment decreased 8.61 percent (vs 1.70 percent in Q1). Also, government spending contracted 6.90 (3.75 percent vs 3.74 percent) and external demand contributed negatively to the GDP, as both exports and imports dropped. On the production side, output contracted for mining (-2.72% vs 0.45%), manufacturing (-6.19% vs 2.06%), construction (-5.39% vs 2.90%), wholesale trade, retail (-7.57% vs 1.60%), transportation and warehouse (-30.84% vs 1.29%), accommodation, food & beverages (-22.02% vs 1.95%), business services (-12.09% vs 5.39%). Conversely, output expanded for communication (10.88% vs 9.80%).
2020-08-05
Indonesia GDP Annual Growth Weakest in 18 Years
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.
2020-05-05
Indonesia Q4 GDP Annual Growth Weakest in 3 Years
Indonesia's annual economic growth eased slightly to 4.97 percent in the fourth quarter of 2019 from 5.02 percent in the previous three-month period, slightly below market consensus of 5.04 percent. That was the weakest pace of expansion since the fourth quarter of 2016, due to softer increases in household consumption (4.97 percent vs 5.01 percent in Q3), fixed investment (4.06 percent vs 4.21 percent) and government spending (0.48 percent vs 0.98 percent). In addition, exports fell 0.39 percent (vs 0.10 percent in Q3) and imports dropped at a faster 8.05 percent (vs -8.30 percent). On the production side, output growth slowed mainly for manufacturing, mining, retail and wholesale trade, real estate activities, education and social services. For 2019, the economy expanded 5.02 percent, below market expectations of 5.03 percent and the government's 5.3 percent target. That was the weakest annual growth since 2015. Bank Indonesia expects a GDP growth rate of 5.3 percent in 2020.
2020-02-05

Indonesia GDP Annual Growth Rate
Indonesia is the largest economy in South East Asia. Industry accounts for the largest share of GDP (46.5 percent of total GDP). Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output). Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent. Services constitute 38 percent of total GDP. Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent). Agriculture accounts for the remaining 15 percent.