Indonesian economy contracted 3.49% year on year (y/y) in the third quarter (Q3) of 2020, the first economic recession since the 1998 Asian financial crisis, as the COVID-19 crisis took a significant toll on the economy. The transportation and warehouses contracted 16.7%, while export components (goods and services) contracted 10.82%. On spending, export contracted 10.82%, investment contracted 6.48%, and household consumption contracted 4.04%. Government spending grew by 9.76%.
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