Indonesia's Economic Growth Recorded At Negative 0.74 Percent In Q1

Indonesia posted an economic growth of negative 0.74 percent in the first quarter of this year, showed data from its central statistical agency Statistics Indonesia on Wednesday

JAKARTA (UrduPoint / Pakistan Point News - 5th May, 2021 ) :Indonesia posted an economic growth of negative 0.74 percent in the first quarter of this year, showed data from its central statistical agency Statistics Indonesia on Wednesday.

"The Indonesian economy is still contracting by 0.74 percent year-on-year," said the agency head Kecuk Suhariyanto.

Best performance was reported in the information and communication sector with a growth of 8.

72 percent, while the largest contraction occurred in the transportation and warehousing sector, at negative 13.12 percent.

Indonesia began to face economic contraction since the second quarter of last year, at 5.32 percent, amid the COVID-19 pandemic.

In the following quarters the growth rate was still in the negative territory but showed an improving trend, recorded at negative 3.49 percent and negative 2.19 percent year-on-year respectively in the third and fourth quarters of 2020.