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Indonesia GDP grows for first time since pandemic hit
Statistics Indonesia (BPS) reported on Thursday that Indonesia’s gross domestic product (GDP) grew 7.07 percent year-on-year (yoy) in the April-to-June period, which is the first GDP growth booked in five quarters, ending the pandemic-induced recession cycle.
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A technician maintains a 4G base transceiver station (BTS) tower in Bendungan Hilir, Central Jakarta, on July 13, 2018. Information and communication technology is one of several sectors that have maintained growth during the COVID-19 pandemic. (JP/Dhoni Setiawan)
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ndonesia has recorded its first economic growth since the COVID-19 pandemic hammered the country in early March last year, thanks largely to a resurgence in mobility and uptick in commodity prices as other countries re-emerged from pandemic curbs.
Statistics Indonesia (BPS) reported on Thursday that Indonesia’s gross domestic product (GDP) grew 7.07 percent year-on-year (yoy) in the April-to-June period, which is the first GDP growth booked in five quarters, ending the pandemic-induced recession cycle.
At the height of the recession, Indonesia’s GDP contracted as much as 5.32 percent in the second quarter of last year, the sharpest drop since the 1998 Asian Financial Crisis.
“This 7.07 percent growth clarifies that with improving health measures, in daily COVID-19 infections, community mobility will increase and in turn our economy improve,” BPS head Margo Yuwono said in an online briefing on Thursday.
The rebound aligned with an uptick in other leading indicators, such as car and motorcycle sales, factory activity, retail sales, consumer confidence and, more importantly, community mobility.
The latest growth figure matches the government’s forecast of between 7.1 and 7.5 percent GDP growth for the second quarter.
