Indonesia's Economy Grew 5.02% in Q4 2021 (Year-on-Year)

The Central Statistics Agency (BPS) reported that Indonesia's economy, based on the 2010 constant price Gross Domestic Product (GDP), grew by 5.02% in Q4 2021 compared to Q4 2020 (Year on Year/YoY).

By business sector, the health and social services sector recorded the highest growth, reaching 12.16% in Q4 of this year (YoY). This was followed by the transportation and warehousing sector, which grew by 7.93% (YoY), and the electricity and gas supply sector, which grew by 7.81% (YoY).

The sectors that contributed the most to the national GDP were the manufacturing industry, which grew by 4.92% in Q4 2021 (YoY), followed by the agriculture sector, which grew by 2.28%, and the wholesale and retail trade sector, which grew by 5.56% (YoY).

The domestic economy also grew by 1.06% in Q4 2021 compared to Q3 2021 (Quarter to Quarter/QoQ). The government administration, defense, and compulsory social security sector grew by 22.2% in Q4 of last year (QoQ). This was followed by the transportation and warehousing sector, which grew by 14.24% (QoQ), and the education services sector, which grew by 13.61% (QoQ).

For information, the national GDP experienced a recession due to the Covid-19 pandemic. The domestic economy contracted for four quarters (YoY), starting from Q2 2020 to Q1 2021. However, since Q2 2021, it has started to record growth until Q4 of last year.