Statistics Indonesia: National Economy Grows by 3.69 Percent in 2021

Head of Statistics Indonesia Margo Yuwono (Source: Screenshot)

Statistics Indonesia (BPS) has reported that Indonesia’s economy grew by 3.69 percent cumulatively throughout 2021, demonstrating a better performance than in 2020, which contracted by 2.07 percent.

“Indonesia’s economy in the fourth quarter of 2021 grew by 1.06 percent (QoQ) and if I compare it with the fourth quarter of 2020, Indonesia’s economy grew by 5.02 percent (YoY), and cumulatively, which means that throughout 2021, Indonesia’s economy grew by 3.69 percent (c-to-c),” Head of the BPS Margo Yuwono said in his press statement streamed on the YouTube channel of BPS, Monday (02/07).

According to Margo, Indonesia’s economy in 2021 measured based on gross domestic product (GDP) at current prices reached Rp16,970.8 trillion and the GDP per capita amounted to Rp62.2 million or US$4,349.5.

Margo further said that the QoQ economic growth from 2018 to 2020 shows a pattern of economic contraction in the fourth quarter. It contracted by 1.69 percent in 2018, by 1.74 percent in 2019, and by 0.40 percent in 2020, he pointed out.

“It is different in the fourth quarter of 2021. Our economy was able to grow by 1.06 percent. Why? Because in the third quarter, the number of our COVID-19 cases was high, public mobility was limited, and there was also economic slowdown, so all economic activities were compensated in the fourth quarter,” he said, adding that on the production side, the industry of public administration, defense, and compulsory social security experienced the highest QoQ growth of 22.20 percent.

Meanwhile, on the expenditure side, Margo went on to say, the component that saw the highest QoQ growth was Government consumption expenditure with 33.00 percent.

The Head of the BPS also pointed out that Indonesia’s economy Q4-2020 on Q4-2021 grew by 5.02 percent (YoY), adding that on the production side, health and social work industry saw the highest growth of 12.16 percent, whereas on the expenditure side, export of goods and services saw the highest growth of 29.83 percent.

“All industries had a growth of GDP, except the financial services sector,” he said.

Margo pointed out that the highest growth was seen in health and social work industry on the production side with 10.46 percent and in export of goods and services on the expenditure side with 24.04 percent.

Indonesia’s economic structure in 2021 was spatially dominated by provinces in Java island that contributed as much as 57.89 percent to the economy with economic performance grown by 3.66 percent, he remarked. (PR of BPS/UN) (DH/MUR)

The official website of BPS can be accessed through this link.