Credit: REUTERS/AJENG DINAR ULFIANA. On the one hand, Indonesia can still enjoy a fair bit of ‘low base effect’ in Q3-2021 (as Indonesia’s gross domestic product, GDP, had contracted -3.49 percent in Q3-2020). Joko Widodo Quarterly GDP growth rate in Kenya 2018-2021; Gross savings in relation to GDP across India FY 2015-2018; ... "Contribution to gross domestic product of Indonesia in 2020, by industry." Indonesia gdp growth rate for 2018 was 5.17%, a 0.1% increase from 2017. The GDP of Indonesia grew by 3.5% in 2021 primarily owing to the successful COVID-19 vaccination campaigns, while consumer price inflation stood at 1.6%. Indonesia's economy grew 5.02% in the final quarter of 2021, slightly faster than expected, on the back of high commodity prices and the loosening of … Digitalization has been identified as one of Indonesia’s key drivers of growth in 2021 as a corollary of increased digital consumption during COVID-19. Although encouraging, Indonesia’s high economic growth in the second quarter of 2021 is not much of a surprise. Access the latest politics analysis and economic growth summary through 2011 for Indonesia from The Economist Intelligence Unit ... Economic growth will accelerate in 2022 amid fewer coronavirus-related restrictions on public activity and surging external demand for commodities—still the backbone of Indonesia's economy. Despite still being in negative territory, GDP growth of Indonesia is the closest it gets to the positive rate since the outbreak. ANZ's new forecast is … On a nominal basis, the US is ahead of China by $6 trillion in 2021. Indonesia Closes Coal Cargo Shipment Services Following Coal Export Ban. No. It also reflects slower quarter-on-quarter growth in the European Union (EU) where GDP rose by 0.4% in Q4 2021, down from 2.2% in Q3. JAKARTA (Reuters) – Indonesia’s economic growth slowed more than expected in the third quarter as restrictions to control a deadly wave of COVID-19 weighed on activity, although recent data suggests growth may be getting back on track in the current quarter. The results show that several intergovernmental fiscal transfer policies in … Nov 4, 2021 10:48PM EDT. Indonesia gdp per capita for 2019 was $4,135, a 6.2% increase from 2018. Aug ‘20) 1.04% • BI Reverse Repo Rate (7-day, Oct ‘20) 4.00% • Current Account Deficit (CAD) (Q2 ‘20) -1.20% • IDR/USD (Oct ‘20) IDR14,758 Macroeconomic & Financial Sector Policy Research Indonesia: Central Bank holds rates in March. Indonesia's gross domestic product (GDP) recorded an annual growth of 3.69% in 2021, according to data released by Statistics Indonesia on Monday (Feb 7). … LineBarMap. The economy is estimated to have expanded 3.7 percent this year and is forecast to accelerate to 5.2 percent in 2022, the World Bank said on Thursday. Nonetheless, the IMF’s growth projection of 5.6 percent (y/y) in 2022 – if achieved – would be well above growth rates we saw in pre-COVID-19-pandemic times. A sudden stop to a growth story GDP growth, y-o-y % changes 1.Other G20 EMEs include Argentina, Brazil, China, India, Mexico, Russia, Saudi Arabia, South Africa, and Turkey. This page presents GDP forecast figures by country for the period from 2021 to 2025 as estimated by the IMF in its latest edition of World Economic Outlook (WEO) as of October 2020. Indonesia: Growth moderates in Q3. Resident Representative for Indonesia James P. Walsh Senior Resident Representative . But on the other hand, economic activity still seems far away from normal levels. Growth picked up in the final quarter of 2021, with GDP increasing 5.0% on an annual basis (Q3: +3.5% year-on-year). Office Information. 2022. 4.302. This page includes a chart with historical data for Indonesia Full Year Gdp … However, both the crude birth rate, and total fertility rates, have fallen. License : CC BY-4.0. GDP growth picked up from 3.5% y/y in Q3 to … Continue reading "Indonesia GDP (Q4 2021)" TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto projected that Indonesia's economy would grow to 1.6 to 2.1 percent in the first quarter of 2021 after it experienced a recession throughout 2020. According to data from BPS-Statistics Indonesia, Indonesia's economy maintained positive growth in the third quarter of 2021 despite moderating in response to a surge of the highly contagious Delta variant of coronavirus. The minister also gave a new official forecast for 2021 full-year growth of 4%, compared with a previous forecast of 3.7% to 4.5%. Indonesia Economic Outlook 2021 Key Figures • GDP Growth (Q2 ’20) -5.32% • Inflation (y.o.y. GDP Growth rate (%) 2020. March 3, 2021. Indonesia's national economy in the second quarter of 2021 moved into positive territory for the first time since the Covid-19 outbreak at the beginning of 2020, achieving 7.07% (yoy) growth. However, Indonesia faced a recession in 2020, when the economic growth collapsed to −2.07% due to the COVID-19 pandemic. GDP growth moderated to 3.5% year-on-year in the third quarter, from 7.1% in the second quarter. For 2021 full year, the government maintained its economic growth forecast at 4%. Global Economic Prospects examines trends for the world economy and how they affect developing countries. Indonesia’s economic growth quickened in the final quarter of 2021, powered by resurgent domestic demand and the global commodity boom even as a virus resurgence looms. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Recorded at -0.74% (y.o.y), the Indonesian economy in Q1 2021 enjoyed a less severe contraction in almost all sectors than the previous three quarters. GDP (billions of $/Int. ... August 31, 2021 September 1, 2021 Web Desk. A sudden stop to a growth story GDP growth, y-o-y % changes 1.Other G20 EMEs include Argentina, Brazil, China, India, Mexico, Russia, Saudi Arabia, South Africa, and Turkey. Fitch Ratings expects real GDP to grow by 3.2% in 2021, although there is upside potential to our forecast from a swift recovery in mobility in 4Q21 and continued high prices of Indonesia’s export commodities. Indonesia gdp per capita for 2020 was $3,870, a 6.42% decline from 2019. Chart. Source: International Monetary Fund. As expected, the economic recession persisted into Q1-2021 for Southeast Asia’s largest economy. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 5.8% during 2015-2021. Digitalization has been identified as one of Indonesia’s key drivers of growth in 2021 as a corollary of increased digital consumption during COVID-19. GDP From Agriculture in Indonesia decreased to 49499 IDR Billion in the fourth quarter of 2021 from 79372.30 IDR Billion in the third quarter of 2021. Aggregates. After several years of strong growth, Indonesia’s GDP fell 2.1 percent in 2020. On Friday 5 November 2021 Indonesia’s Statistical Agency (BPS) released the official Q3-2021 gross domestic product (GDP) data for Indonesia. Other GDP-related … Country Infographic ... * GDP Data from January 2022 World Economic Outlook Update. StatLink 2 https://stat.link/jr1hzt Table 1. Analysts predicted Indonesia’s economy to have expanded 3.2% in the July-September quarter, and 4.6% in the current quarter, while 2021 growth was seen at 3.4%, according to a Reuters survey this month. This was the worst growth since the 1997 crisis. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 5.8% during 2015-2021. Indonesia's Economic Growth 2021 Workers load sacks of flour into a truck at the Sunda Kelapa Harbor in Jakarta, February 7, 2022. But a bigger drag will come from falling commodity prices and policy tightening. The trading and processing sectors noted a 9.44 percent and 5.58 percent growth, respectively. Indonesia has responded with a bold and comprehensive policy package to cushion the impact of the COVID-19 pandemic. GDP growth (annual %) - Indonesia. Despite still being in negative territory, GDP growth of Indonesia is the closest it gets to the positive rate since the outbreak. ... Hartarto said that Indonesia's economic growth in 2021 was marked by turmoil as well as opportunities that were highly dependent on the development of the COVID-19 pandemic. Economic Forecast Summary (May 2021) GDP growth is projected to resume at around 5% annually in 2021 and 2022. North Maluku is the top region by real GDP growth in Indonesia. Bank Indonesia (BI), has revised the projected figure for the country’s economic growth this year, to the range between 4.5 and 5.3 percent, BI’s Governor, Perry Warjiyo said, yesterday. But a bigger drag will come from falling commodity prices and policy tightening. January-February-2021 The impact of local government expenditures and fiscal decentralisation practices on local gross domestic product (GDP) and poverty is also measured. The Gross Domestic Product (GDP) in Indonesia was worth 1058.42 billion US dollars in 2020, according to official data from the World Bank. Year. Meanwhile, the IMF decided to cut its projection for Indonesia’s economic growth in 2023 from 6.4 percent (y/y) previously, to 6.0 percent (y/y). Data Source: World Bank MLA Citation: Similar Country Ranking; Country Name Billions of US $ India: $2,701.11B: Balance of Payments, Commodities, economy, Employment, Forecast, GDP, ... Indonesia - Gross domestic product per capita, constant prices (Purchasing power parity; 2017 international dollar) The Indonesian economy continued to recover in 2021 despite moderating due to the COVID-19 Delta variant wave mid-year. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. For the year as a whole, the economy rebounded 3.7% in 2021 (2020: -2.1% yoy). The slowdown in the G20 area in the fourth quarter (Q4) of 2021 mainly reflects decelerating growth in India, 1 where GDP increased by 1.8% quarter-on-quarter after rising by 13.7% in the third quarter (Q3). $) Nominal PPP; 2020: 1,059.64: 3,302.41: 2021: 1,158.78: 3,507.24: 2022: 1,256.28: 3,794.85: 2023: 1,360.26: 4,101.10: 2024: 1,458.74: 4,411.94: 2025: 1,561.95: 4,733.11: 2026: 1,672.54: 5,073.45 The national economy grew 3.51% (yoy) in the third quarter of 2021, down from 7.07% (yoy) in the previous period. World Bank national accounts data, and OECD National Accounts data files. Bank Indonesia (BI) keeps its optimism regarding Indonesia’s economic growth in 2021 that could reach 3.5% to 4.3% following the steady economic recovery until the third quarter of 2021. However, … GDP Growth Q4 2021 5.02% (y/y) Inflation March 2022 2.64% (y/y) Central Bank BI 7-Day Reverse Repo March 2022 3.50%. 2021. Year-on-year GDP growth of the G20 area rebounded to 3.4% in the first quarter of 2021, following a contraction of (minus) 0.7% in the previous quarter. Economy Indonesia's economy bounced back in 2021 with 3.69% growth. Indonesia GDP 1967-2022. World Bank national accounts data, and OECD National Accounts data files. Grew by 7.07% (y.o.y) in Q2 2021, Indonesia experienced its highest GDP growth in the last 17 years after suffering economic contraction in the preceding four quarters. In 2021, gross domestic product expanded 3.69%, due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices. GDP Growth Rate in Argentina averaged 0.54 percent from 1993 until 2021, reaching an all time high of 12.88 percent in the third quarter of 2020 and a … GDP From Agriculture in Indonesia averaged 69929.96 IDR Billion from 2010 until 2021, reaching an all time high of 96832.80 IDR Billion in the second quarter of 2020 and a record low of 37282.50 IDR Billion in the fourth … StatLink 2 https://stat.link/jr1hzt Table 1. Jakarta, the financial center of Indonesia GDP growth -2.07% (2020) 4.3% (2021f) GDP per capita $4,256 (nominal; 2021 est.) $12,882 (PPP ... GDP per capita rank 104th (nominal; 2021 est.) 96th (PPP; 20 ... GDP by sector Agriculture: 13.7% Industry: 41% Service ... 33 more rows ... March 17, 2022. -2.070. Same region. Full Year GDP Growth in Indonesia averaged 4.66 percent from 2009 until 2021, reaching an all time high of 6.38 percent in 2010 and a record low of -2.07 percent in 2020. Portugal’s GDP rose 1.6 percent quarter-on-quarter in the last three months of 2021, in line with preliminary estimates and slowing from a downwardly revised 2.8 percent expansion in the previous quarter. November 5, 2021. Data. Jakarta, December 16, 2021 – The Indonesian economy continued to recover in 2021 despite moderating due to the COVID-19 Delta variant wave mid-year. In 2020, Indonesia's real gross domestic product fell by around 2.07 percent compared to the previous year. As of 2021, the United States and China would occupy the first two places in both methods' gdp ranking.The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2021 (8.02%) is higher than the US's 5.97%. Indonesia is officially out of technical recession. “The government’s projection [on the economic growth] in 2021 is between 4.5-5.5 percent, and we sure hope there is positive … IMF: World Economic Outlook (WEO) Database, October 2021. In 2021, gross domestic product expanded 3.69%, due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices. Download Historical Data Save as Image. This makes the Gross Domestic Product (GDP) of the country throughout 2021 grow positively in 2021, after the previous year it grew negative (contracted). GDP accelerated in Q4 to pre-pandemic level, but COVID fear remains for 2022 Indonesia’s economy rebounded strongly in the final quarter of last year, but the recovery is now entering a more difficult phase. The Omnibus law, which was ratified on 5 October 2020, is expected to benefit firms that have grappled with the country’s restrictive labour regulations in the past. JAKARTA, INDONESIA (22 September 2021) — Indonesia’s economy is expected to grow by 3.5% in 2021 and by 4.8% in 2022 amid the coronavirus (COVID-19) pandemic, according to a report released today by the Asian Development Bank (ADB). In 2021, gross domestic product expanded 3.69%, due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices. Q3’s reading came in slightly below market expectations and was weighed down by mobility restrictions, as well as a less favorable base effect. License : CC BY-4.0. Country Data 2021-11-05 Indonesia Q2 GDP Growth Highest in Over 16 Years Indonesia's economy expanded by 7.07% in the second quarter of 2021, rebounding sharply from a marginally revised 0.71% contraction in the previous quarter, and beating market consensus a 6.57% growth. The Central Agency of Statistics (BPS) recorded that Indonesia's economy in 2021 grew by 3.69 percent, compared to a contraction of 2.07 percent in 2020. The pandemic also partially reversed recent progress in poverty reduction, from the record-low of 9.2 percent in September 2019 to 9.7 percent as of September 2021. Perry Warijyo, BI Governor, the ongoing economic improvement is evident from the enhancement of several early indicators until this October. Indonesia Economic News. There are signs that Indonesia's economic growth is starting to accelerate again after the economic slowdown in the years 2011-2015. Read more Indonesian Economy (GDP) Grows 3.69% in 2021 The Indonesian economy succeeded in the fourth quarter of 2021 being able to grow above 5%. The GDP of Indonesia grew by 3.5% in 2021 primarily owing to the successful COVID-19 vaccination campaigns, while consumer price inflation stood at 1.6%. GDP growth moderated to 3.5% year-on-year in the third quarter, from 7.1% in the second quarter. Figure 1. The Omnibus law, which was ratified on 5 October 2020, is expected to benefit firms that have grappled with the country’s restrictive labour regulations in the past. Indonesia’s Economy to Return to Growth in 2021 — ADB JAKARTA, INDONESIA (28 April 2021) — Indonesia’s growth rate is expected to reach 4.5% in 2021 and 5.0% in 2022 amid improving global conditions and a gradual reopening of the economy, says a new report by the Asian Development Bank (ADB) released today. Indonesia is officially out of technical recession. Source: OECD Economic Outlook 108 database updated. While large, this downturn was smaller than other countries in the Asia-Pacific region, reflecting less stringent containment measures and lower dependence on highly impacted sectors like tourism. As of 2nd quarter 2021, real GDP growth in North Maluku was 1,689 %. Growth could accelerate to 5.0% in 2022 driven by reduced uncertainty and assuming that the vaccine rollout reaches a critical mass of the population in the fourth quarter of 2021. The top 5 regions also includes Central Sulawesi, Special Region of Papua, Special Region of Yogyakarta, and Jakarta (Special City District). Perry Warijyo, BI Governor, the ongoing economic improvement is evident from the enhancement of several early indicators until this October. "Indonesia's GDP bounce will be short-lived," said Krystal Tan, an economist with ANZ who is among those pencilling in slower growth this year. Source: OECD Economic Outlook 108 database updated. While we had predicted a mediocre performance (based on the country’s lackluster retail sales, consumer confidence, credit growth and low inflation in this year’s third quarter), the figure was still below our forecast. This compared with the government's forecast of 3.7% to 4.5% economic growth in 2021. Omicron will act as a small obstacle in the first quarter. GDP (current US$) - Indonesia. Indonesia’s economy rebounded strongly in the final quarter of last year, but the recovery is now entering a more difficult phase. This compared with the government's forecast of 3.7% to 4.5% economic growth in 2021. Indonesia's economy shrank 2.1% last year, the first contraction since 1998, due to the fallout of the pandemic. In 2021, the gross domestic product growth rate for the basic metals manufacturing sector in Indonesia was estimated to be around 11.5 percent. Argentina’s GDP expanded 1.5 percent on quarter in the last three months of 2021, easing from a downwardly revised 4.1 percent advance in the previous period. Strong policy support and an improving global economy will be the main drivers initially, and greater mobility … Indonesia - GDP GDP growth picks up in the fourth quarter. Last year, GDP contracted for the first time since 1998 by 2.1%. The healthcare services sector, on the other hand, recorded an 11.02 percent growth from 3.01 percent in Q1. Grew by 7.07% (y.o.y) in Q2 2021, Indonesia experienced its highest GDP growth in the last 17 years after suffering economic contraction in the preceding four quarters. Although encouraging, Indonesia’s high economic growth in the second quarter of 2021 is not much of a surprise. Data are in current U.S. dollars. November 5, 2021. Bank Indonesia (BI) keeps its optimism regarding Indonesia’s economic growth in 2021 that could reach 3.5% to 4.3% following the steady economic recovery until the third quarter of 2021. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Indonesia economic growth for 2018 was $3,386.89B, a 1.74% increase from 2017. Download Historical Data Save as Image. The economy rebounded in the third quarter of 2020, and the economic recovery is projected to strengthen in 2021 and 2022. This was the worst growth since the 1997 crisis. Exports and government spending are expected to be the country’s main growth drivers this year, … This was the worst growth since the 1997 crisis. Recorded at -0.74% (y.o.y), the Indonesian economy in Q1 2021 enjoyed a less severe contraction in almost all sectors than the previous three quarters. In 2021, Indonesia's TIV is projected to improve with 36.3% growth, following slow economic recovery as well as Phase 1 COVID-19 vaccination that is targeted for completion as early as March. GDP growth picked up from 3.5% y/y in Q3 to … Continue reading "Indonesia GDP (Q4 2021)" On 5 May 2021, Indonesia’s Statistical Agency (Badan Pusat Statistik, BPS), released the latest gross domestic product (GDP) data of Indonesia, covering the first quarter of 2021. The industrial sector made the largest contribution to the GDP (gross domestic product) of 18.8 percent and contributed 1.01 percent to economic growth, he said. 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