Jakarta (ANTARA) - The Central Statistics Agency (BPS) revealed that agriculture was the only key sector that contributed to growth in the third quarter even as the overall economy contracted 3.49 percent year-on-year. Among the five dominant business sectors, only the agricultural sector recorded positive growth, BPS chief Suhariyanto said at a press conference here on Thursday.
"The agricultural sector grew 2.15 percent, or about the same as the second quarter of 2020 (when agricultural growth was recorded) at 2.19 percent," he said.
The agricultural sector's growth was fueled by the second rice grand harvest and high demand for fruits, vegetables, and plantation commodities, including cocoa, rubber, cloves, and tobacco, he informed.
During the same period, the processing industry contracted 4.31 percent, the trade sector shrunk 5.03 percent, the construction sector declined 4.52 percent, and the mining sector dropped 4.28 percent.
In total, the five key sectors contributed 64.13 percent to the gross domestic product (GDP), Suhariyanto said.
The BPS also revealed that the information and communication sector grew 10.61 percent, health services expanded 15.33 percent, educational services increased 2.44 percent, water procurement rose 6.04 percent, and government administration grew 1.86 percent.
However, accommodation, and foods and beverages contracted 11.85 percent, transportation and warehousing dropped 16.7 percent, real estate fell 1.98 percent, and corporate services declined 7.61 percent.
Although many sectors recorded a contraction, the BPS perceived signs the economy has started to recover as, on average, business fields have recorded positive growth on a quarterly basis.
"It still records contraction though it is not as deep as the second quarter. So, there has been improvement of which direction must be guarded with common optimism," Suhariyanto said.
The BPS had earlier announced that the Indonesian economy contracted 3.49 percent (yoy) in the third quarter of 2020.
With negative growth recorded for two consecutive quarters, Indonesia has officially fallen into a recession akin to that experienced by numerous countries battered by the COVID-19 pandemic, Suhariyanto stated at a press conference here on Thursday.
The BPS had earlier highlighted that the Indonesian economy had contracted 5.32 percent yoy in the second quarter of 2020 owing to the COVID-19 pandemic limiting economic activity. (INE)
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