Indonesia's Economy Grew 5.02 Percent in 2021 Fourth Quarter

TheIndonesia.co - The Indonesian economy in the fourth quarter of 2021 grew by 5.02 percent year-on-year (yoy) or 1.06 percent quarter-on-quarter (qoq) as compared to the third quarter of 2021, Statistics Indonesia (BPS) said.

 "Indonesia's economy in the fourth quarter of 2021 grew 1.06 percent (qtq) and 5.02 percent (yoy) if I compare it to the fourth quarter of 2020," BPS Head Margo Yuwono noted at a press conference here on Monday, February 7, 2022.

 Yuwono explained that Indonesia's economic conditions began to improve in the fourth quarter after severe economic depression in the third quarter due to the transmission of the coronavirus variant Delta, which caused the second wave of cases.

 The daily cases of COVID-19 decreased significantly in the fourth quarter of 2021, so community activity and mobility improved that ultimately boosting economic growth.

 "Hence, an improvement was observed in population mobility along with a decline in the number of COVID-19 cases in the fourth quarter," he remarked.

 This improvement had a major impact on air transportation that increased quite significantly by 155.32 percent (qtq), or 18.23 percent (yoy); sea transportation by 19.75 percent (qtq), or nine percent (yoy); and rail transportation by 110.71 percent (qtq), or 17.41 percent (yoy).

 Likewise, in the tourism sector, an increase of 23.1 percent (qtq) and 8.87 percent (yoy) was recorded in the room occupancy rate in the fourth quarter of 2021.

 Economic activity in the manufacturing sector, recorded at 50.17 percent based on data from Bank Indonesia, is also a sign of recovery.

 "This shows that the economy is experiencing expansion in the fourth quarter," he stated.

 These positive achievements in the fourth quarter finally pushed the realization of economic growth of 3.69 percent in 2021.