Exports, Consumption and Investment Key to Indonesia’s Economic Growth: Bank Indonesia

Indonesia’s 2021 Economic Outlook is optimistic about the country’s growth in 2021, citing three key contributors to the recovery, which are set to lead to Indonesia’s economic growth coming in at between 4.8% and 5.8% year-on-year (YoY).

First, according to Bank Indonesia Governor, Perry Warjiyo, Indonesia’s exports are expected to increase as the global economy as well as the economies of its main trading partners, China and the United States of America (USA) show improvement. Warjiyo noted that the global economy is forecast to grow by 5.0% YoY, whilst China and the USA are expected to see their respective economies grow by 7.8% YoY and 4.3% YoY, respectively.

Second, Warjiyo stated that both government and private consumption would also con...