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%).
GDP Annual Growth Rate in Indonesia averaged 5.10 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 October of 2020. source: Statistics Indonesia
GDP Annual Growth Rate in Indonesia is expected to be -1.20 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 8.50 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 8.00 percent in 2021 and 5.50 percent in 2022, according to our econometric models.