In the fourth quarter of 2021, the Indonesian economy expanded 1.06 percent qtq (quarter-to-quarter). If I compare it with the fourth quarter of 2020, it grew 5.02 percent (year-on-year/yoy). Cumulatively, the economy grew 3.69 percent throughout 202Jakarta (ANTARA) - The Indonesian economy grew 3.69 percent in 2021 after having contracted 2.07 percent in 2020, according to Statistics Indonesia (BPS).
"In the fourth quarter of 2021, the Indonesian economy expanded 1.06 percent qtq (quarter-to-quarter). If I compare it with the fourth quarter of 2020, it grew 5.02 percent (year-on-year/yoy). Cumulatively, the economy grew 3.69 percent throughout 2021," BPS Chief Margo Yuwono noted at a press conference here on Monday.
In 2021, the Indonesian economy largely hinged on the handling of the COVID-19 pandemic.
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For instance, although the economy contracted 0.74 percent (yoy) in the first quarter of 2021, it performed far better than that in 2020 when COVID-19 spread and exerted massive pressure on the economy.
The national economy rebound in the second quarter of 2021 when it grew 7.07 percent (yoy) since the baseline during the same quarter of the previous year was very low, at minus 5.32 percent (yoy).
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In addition to the low baseline, the second-quarter growth was also the result of the government's concerted efforts to launch vaccination campaigns that raised the public's confidence to undertake trips.
However, the economic growth fell to 3.51 percent in the third quarter of 2021 as compared to a quarter earlier along with the government's decision to impose emergency public activity restrictions (PPKM) to contain a spike in the number of Delta variant cases of COVID-19.
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Translator: Astrid Faidlatul H, Suharto
Editor: Fardah Assegaf
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