People have already explained that the time complexity is O(n^2). I will add something extra to this.
In real life, array storage is not incremented by the size of 1 element.
What happens is that if you have K items in the array and then when the time comes for allocation of new storage (for new elements) then the array will be grown to some N times K.
So, if N is 1.5, then the size of the new array will be N x K x Size_of_1_element. This is done so that time is not wasted in allocating storage. However, it is quite possible that all the allocated storage may not be used. So, its a space vs time tradeoff. However, it had been decided by computer language inventors that wasting some storage is better than wasting time in frequent allocation of storage.
In Java language, N is 1.5 but other languages may have different values of N.