Indonesia's Economy Down 2.19% in Q4/2020
Translator
Ririe Ranggasari
Editor
Laila Afifa
Jumat, 5 Februari 2021 18:41 WIB
TEMPO.CO, Jakarta - Indonesia's central statistics agency BPS recorded negative growth of minus 2.19 percent (yoy) in Q4/2020. On a quarterly basis, Q4's growth decelerated by 0.42 percent.
BPS chief Suhariyanto said that Indonesia's economy in last year's fourth quarter was still affected by the widespread of Covid-19 infections, preventing a number of sectors from returning to normal operations.
"Many nations' economies improved in quarter fours despite slowly. There were recoveries," he said in an online press conference on Friday, February 5.
The biggest source of growth correction was the manufacturing industry with -0.65 percent, followed by construction, transportation, and warehousing.
Albeit still at a negative, Q4/2020 economic growth rate was better than Q2 and Q3, which were minus 3.49 percent and minus 5.32 percent.
Overall, Indonesia's Economy in 2020 was contracted by 2.07 percent. "We need to evaluate and determine what elements need to be strengthened," Suhariyanto said.
Read: Indonesia Reports First Growth Contraction Since 1998
Tempo.co
