Indonesia's economy shrank 0.96% qoq in Q1 2022, compared with market estimates of a 0.89% fall and after a 1.06% growth in Q4. This was the first quarterly decline in economic activity in a year, amid COVID-19 mobility curbs as well as worries over the impact of geopolitical tension and risks from a slowdown in China. Government spending plunged (-50.54% vs 33% in Q4), while fixed investment fell slightly (-2.56% vs 4.96%). At the same time, private consumption was sluggish (0.19% vs 3.02%). Meanwhile, external demand contributed positively, as exports shrank 3.18% (vs 3.9% in Q4) while imports fell at a faster 4.63% (vs 15.05%). On the production side, activity fell for utilities (-3.31% vs 3.56% in Q4), construction (-1.24% vs 3.56%), and healthcare (-16.54% vs 4.03%). At the same time, output eased for manufacturing (0.75% vs 0.82%), information & communication (1.69% vs 1.71%), and transport, warehouse (0.8% vs 14.24%), amid a rebound in financial and insurance (4.17% vs -1.36%). source: Statistics Indonesia
GDP Growth Rate in Indonesia averaged 1.22 percent from 2005 until 2022, 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 2022.
GDP Growth Rate in Indonesia is expected to be 0.34 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia GDP Growth Rate is projected to trend around -1.30 percent in 2023 and 1.00 percent in 2024, according to our econometric models.