Indonesia economy shrinks in 2020 for first time in two decades

GDP plunged 2.07% last year as COVID-19 crippled business activity

20210204 Indo economy

A man walks in a quiet Jakarta business district on June 8, 2020. © Reuters

SHOTARO TANI, Nikkei staff writer

JAKARTA -- Indonesia's economy contracted in 2020 for the first time in more than two decades as COVID-19 crippled business activity across the archipelago.

The gross domestic product of Southeast Asia's largest economy plunged 2.07% from a year earlier, according to data released Friday -- a marked downturn from 2019 when Indonesia recorded growth of 5.02%.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.