Meanwhile, household spending, which accounts for more than half of GDP, grew by 5.04 percent last year, stagnant compared to the 5.05 percent in the previous year because of lowering vehicle sales. 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. Written by Lexy Nantu, Email: lexy@theinsiderstories.com. This is most likely related to the legislative and presidential elections of 2019 (administrations typically become very generous ahead of national elections as it boosts their chances in the race). It was a painful process to force miners to establish smelting facilities and force foreign miners to divest shares so an Indonesian party (or several Indonesian parties) would control at least 51 percent of the mining company. The figure is short of the government’ 5.3 percent target despite supportive efforts by policymakers that included four rate cuts by the central bank. The structural lack in quality and quantity of infrastructure development in Indonesia started to really show in the 2000s. ... 1961 - 2019 GDP (constant 2010 US$) ... GDP per capita growth (annual %) Download. Another example of reform, which had started under the Susilo Bambang Yudhoyono administration (with the 2009 Mining Law), was that the Indonesian government tried to reduce its dependency on exports of raw materials. Please do not hesitate to contact me. And considering household consumption accounts for about 55-58 percent of Indonesia's total economic growth, it therefore has a direct and significant impact on the country's GDP. However, despite becoming less volatile on a year-on-year basis, commodity prices do still influence the longer term trends of Indonesia's GDP, hence we see a rising trend between 2000-2011 ('2000s commodities boom') but deceleration, modest acceleration and stagnation in the 2011-2020 period. We are the bridge that connects investors, the business community and policymakers. Please create an employee account to be able to mark statistics as favorites. On the output side, activity fell for agriculture 20.52 percent from 1.05 percent earlier, mining & quarrying down 1.52 percent from 3.38 percent, manufacturing fell 1.63 percent from 3.18 percent, and wholesale & retail trade fell 2.32 percent from 2.85 percent earlier. Although at first this 2014 election was believed to become an easy victory for Widodo, the presidential election in fact turned out to be a fierce and narrow battle (that would eventually even require a decision by the Constitutional Court to confirm the outcome). It was actually a violation of miners' contacts. Growth of Indonesia's Household Consumption in 2010-2015: Period of Slowly Accelerating Economic Growth (2015-2019). On the production side, activity contracted for manufacturing, utilities, construction, wholesale & retail trade, transport & warehouse, business services, accommodation, food & beverages, and education and others. As a consequence of the high degree of political uncertainty in the context of the 2014 elections (after the decade-long Susilo Bambang Yudhoyono period), investment was disrupted for about five months in 2014, contributing to the further slowdown of the Indonesian economy. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Indonesia's trade-to-GDP ratio is in fact very low at around 40 percent (far below the world's average of 55-60 percent). And while this ban was not immediately implemented in full (as miners could continue exporting mineral seeds if they committed to establishing domestic smelter facilities and paying higher taxes and royalties), and while the objectives of the new policy are good (namely reducing Indonesia's dependence on highly volatile commodity prices), the new law was an example of how uncertain business in Indonesia is (due to sudden changes in regulations). Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. And, as a consequence of sluggish growth across the world (and particularly in China) commodity prices continued to show a downward trend. As soon as this statistic is updated, you will immediately be notified via e-mail. Indonesia gdp growth rate for 2019 was 5.02%, a 0.15% decline from 2018. WDI Tables. ", Statistics Indonesia, Real growth rate of gross domestic product of Indonesia in 2019, by industry Statista, https://www.statista.com/statistics/1019116/indonesia-gdp-real-growth-rate-by-industry/ (last visited October 31, 2020), Real growth rate of gross domestic product of Indonesia in 2019, by industry, Gross domestic product per capita in the United Kingdom (UK) 1955-2019, Quarterly GDP per head in the United Kingdom 2000-2020, Quarterly GDP of the United Kingdom 2000-2020, Quarterly GDP growth of the United Kingdom (UK) 2000-2020, Monthly GDP growth of the United Kingdom (UK) 2010-2020, Gross domestic product per capita growth in the United Kingdom (UK) 1956-2019, Quarterly GDP per head growth of the United Kingdom (UK) 2000-2020, GDP growth rate in European Union countries in 2019, Gross domestic product (GDP) of the United Kingdom (UK) 2018, by country, GDP of the United Kingdom (UK) 2018, by region, Gross value added to the United Kingdom (UK) in 2018, by area, Gross domestic product (GDP) of England (UK) 2000-2018, Scotland: Gross value added (GVA) from 2000-2018, Gross domestic product (GDP) of Wales 2000-2018, Gross domestic product (GDP) of Northern Ireland 2000-2018, Gross domestic product (GDP) of London (UK) 2000-2018, Gross value added (GVA) of the UK 2018, by sector, Agriculture, forestry and fishing sector: Gross value added (GVA) in the UK 2009-2018, Gross value added of the administrative and support sector in the UK 2009-2018, Gross value added of the accommodation and food service sector in the UK 2009-2018, Gross value added of the construction sector in the United Kingdom 2009-2018, Gross value added of the human health and social work sector in the UK 2009-2018, Gross value added of the education sector in the UK 2009-2018, Gross value added of the real estate sector in the United Kingdom 2009-2018, GDP annual growth rate in the EU 2013-2021, Gross domestic product (GDP) growth rate in China 2011-2025, Gross domestic product (GDP) growth rate Finland 2005-2019, Quarterly gross domestic product (GDP) growth rate in China Q3 2018-Q3 2020, Gross domestic product (GDP) growth rate in Kenya 2021, Gross domestic product (GDP) growth rate in Argentina 2021*, Gross domestic product (GDP) growth rate in the BRIC countries 2021, Impact of COVID-19 outbreak on YoY growth rate quarterly GDP Singapore 2020, Quarter-on-quarter growth rate GDP Singapore 2020, Gross domestic product (GDP) growth rate in Germany 2021, Gross domestic product (GDP) growth rate in Poland 2021, Gross domestic product (GDP) growth rate in Cuba 2018, Gross domestic product (GDP) growth rate in Sub-Saharan Africa 2021, Gross domestic product (GDP) growth rate in Albania 2021*, Gross domestic product (GDP) growth rate in Belarus 2021*, Gross domestic product (GDP) growth rate in Syria 2010, Quarterly GDP growth rate in Norway 2018-2020, Gross domestic product (GDP) growth rate in Belgium 2011-2019, Mexico: real GDP growth rate 2019, by agency, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Gross domestic product of the United Kingdom 1948-2019. Are you interested in testing our corporate solutions? Please create an employee account to be able to mark statistics as favorites. Bank Indonesia decided to tighten its monetary policy in order to combat high inflation (which had risen sharply after several fuel subsidy reforms), ease pressures on the country's wide current account deficit, and support the rupiah rate that had become burdened by heavy pressures from mid-2013 due to monetary tightening in the United States. "Indonesia: Growth rate of the real gross domestic product (GDP) from 2009 to 2021 (compared to the previous year)." CSV XML EXCEL.
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