Indonesia in Recession; Bali, Nusa Tenggara Economies Hit the Hardest
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6 November 2020 06:06 WIB
TEMPO.CO, Jakarta - Statistics Indonesia (BPS) recorded that all Islands groups experienced contracted growth in the third quarter of 2020. Bali and Nusa Tenggara suffered the biggest blows as Covid-19 pandemic paralyzes the tourism industry—their main sources of revenue.
Overall, the state's economy grew at a negative 3.49 percent, bringing the archipelago to a recession for two consecutive quarters. In quarter two, Indonesia's economy grew at a rate of -5.32 percent.
"The group of provinces on the islands of Bali and Nusa Tenggara experienced the deepest growth contraction with 6.8 percent," BPS chief Suhariyanto in a virtual press conference, Thursday, November 5, 2020.
The group of provinces in Java Island makes up for 58.88 percent of Indonesia's economic structure. In quarter three, the island's economic growth performance was contracted by 4.00 percent, year-on-year.
Other groups of other provinces that experienced a contraction in growth were Kalimantan (-4.23 percent), Sumatra (-2.22 percent), Maluku and Papua (-1.83 percent), and Sulawesi (-0.82 percent).
Indonesia's Q3/2020 GDP based on applicable prices stood at Rp3,894 trillion. The GDP on the bases of constant prices was Rp2,720.6 trillion.
On a quarterly basis, Indonesia's Q3 economy experienced a growth contraction of 5.05 percent when compared to Q2.
Compared to Q3 / 2019, the transportation and warehousing business field saw the deepest growth contraction of 16.70 percent. In terms of spending, the component of exports of goods and services was corrected the most with 10.82 percent.
Read: Indonesia Officially in Recession; Q3 Growth Rate at Minus 3.49%
Muhammad Hendartyo
