Indonesia Hits Lowest Economic Growth in 19 Years
Translator
Ririe Ranggasari
Editor
Laila Afifa
Rabu, 6 Mei 2020 00:43 WIB
TEMPO.CO, Jakarta - The central statistics agency, BPS, announced Indonesia's economic growth in Q1/2020 was 2.97 percent (yoy). BPS chief Suhariyanto said this is the lowest in 19 years, or since Q1/2001.
Suhariyanto said the situation is incomparable given what the country is going through today. "This is a different condition, because of Covid-19," he said in an online press conference Tuesday, May 5.
Numerous factors are causing Indonesia's economy to weaken under the onslaught of a pandemic. From the business sector, there are declining growths in the industry, trade, and agricultural sectors—the top three contributors to the GDP with 46 percent portion.
Industry growth slowed from 3.85 percent to 2.06 percent, trade growth fell from 5.21 percent to 1.6 percent, while agriculture dropped from 1.82 percent to 0.02 percent.
Additionally, household consumption and investments—the main contributors to economic growth, dropped significantly to 2.84 percent and 1.7 percent.
FAJAR PEBRIANTO
