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Indonesia GDP shrinks for first time since 1998

Christian Fernsby |
Indonesia's GDP shrank by 2.07 per cent year-on-year last year as the COVID-19 pandemic suppressed social and economic activities, Statistics Indonesia (BPS) reported.

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Topics: INDONESIA   

As a result, the country’s GDP per capita – a universal measure of a country’s prosperity – fell by around 3.7 per cent to 56.9 million rupiah ($3,911) last year from 59.1 million rupiah in the previous year, according to BPS.

That was Indonesia's first annual economic contraction since the 1998 Asian financial crisis.

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