What explains this dip in Indonesian GDP growth rate in 1982?

What was the GDP in 1982?

In 1982, against the background of the protracted stagnation of the world economy, it decreased further by 6% to $1.8 trillion, dropping to nearly the level of 1979. This was largely due to decrease in trade of mineral products, mainly crude oil, by 7%, and that of manufactured goods by 1%.

What is the GDP growth rate of Indonesia?

Indonesia GDP Growth Rate 1961-2023

Indonesia GDP Growth Rate – Historical Data
Year GDP Growth (%) Annual Change
2019 5.02% -0.15%
2018 5.17% 0.10%
2017 5.07% 0.04%

What was the economic crisis in Indonesia?

The Asian Financial Crisis started on 2 July 1997 when the Thai government, burdened with a huge foreign debt, decided to float its baht after currency speculators had been attacking the country’s foreign exchange reserves.

Asian Financial Crisis in Indonesia.

GDP growth (annual percent change)
1998 65.0

What causes GDP to increase or decrease?

GDP increases when a country has a positive trade balance or surplus. However, GDP decreases when a country spends more money importing goods and products than it makes exporting goods and products, which leads to a trade deficit.

What happened in the economy in 1982?

Lasting from July 1981 to November 1982, this economic downturn was triggered by tight monetary policy in an effort to fight mounting inflation. Prior to the 2007-09 recession, the 1981-82 recession was the worst economic downturn in the United States since the Great Depression.

What caused the 1982 recession?

It is widely considered to have been the most severe recession since World War II. A key event leading to the recession was the 1979 energy crisis, mostly caused by the Iranian Revolution which caused a disruption to the global oil supply, which saw oil prices rising sharply in 1979 and early 1980.

What is the GDP growth rate of Indonesia 2022?

Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto told the same forum the government expected 2023 growth to be within a range of 4.7% to 5.3%, below an official estimate for 2022 GDP expansion of between 5.2% to 5.3%.

What is the growth and development of the Indonesian economy?

The Indonesian economy is projected to accelerate at 5.1 percent in 2022 and 5.3 percent in 2023 due to the release of pent-up demand, improved consumer confidence, and improved terms of trade.

Does Indonesia have a good GDP?

Indonesia is ranked 10th among 39 countries in the Asia–Pacific region, and its overall score is above the regional and world averages. Indonesia’s economy was growing from before a downturn in 2020.

What was the GDP in the 1980s?

U.S. GDP Growth Rate 1961-2023

U.S. GDP Growth Rate – Historical Data
Year GDP Growth (%) Annual Change
1983 4.58% 6.39%
1982 -1.80% -4.34%
1981 2.54% 2.79%

What was the real GDP in 1980?

U.S. GDP by Year Since 1929, Compared to Major Events

1979 $2.627 3.2%
1980 $2.857 -0.3%
1981 $3.207 2.5%
1982 $3.344 -1.8%

What was the GDP in 1981?

United States (USA) GDP – Gross Domestic Product

Date GDP per capita GDP P.C. Annual Growth
1981 $13,949 11.1%
1980 $12,553 7.3%
1979 $11,699 10.5%
1978 $10,588 11.8%

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