In the fourth quarter, GDP grew 6.9% over the same quarter the year before, up from the 5.8% expansion registered in the previous quarter and above market analyst expectations of a 6.3% increase. In the full year 2010, GDP grew 6.1%, up from the 4.6% increase in 2009. The acceleration in the final quarter of last year was mainly driven by stronger external sector. On the domestic side, private consumption increased 4.4% year-on-year (Q3: +5.2% yoy), while investment added 8.7% (Q3: +9.2% yoy). Exports of goods and services accelerated from growth of 9.6% in the third quarter to 16.1% in the fourth. At the same time, imports expanded 16.9% (Q3: +12.2% yoy). As a result, the net contribution from the external sector to overall growth jumped from 0.1 percentage points in the third quarter to 1.6 percentage points in the fourth. At the sector level, the acceleration over the previous quarter was led by an increase in industry, which strengthened 8.9% (Q3: +8.3% yoy). The services sector posted growth of 5.0% in the fourth quarter (Q3: +3.9% yoy), which reflected a robust expansion within the transport and communication sub-sector (Q3: +13.2% yoy; Q4: +15.5% yoy). Finally, agriculture accelerated 3.8% in Q4 (Q3: +1.8% yoy). The Central Bank expects economic growth to accelerate to between 6.0% and 6.5% in 2011 and between 6.1% and 6.6% in 2012.
Strong exports propel economy to buoyant growth in fourth quarter
February 7, 2011
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Indonesia Economic News
October 20, 2016
At its 19–20 October monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.00% to 4.75%.
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
October 12, 2016
Retail sales in August expanded 14.4% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).
October 3, 2016
In September, consumer prices increased 0.22% from the previous month, which contrasted the 0.02% fall recorded in August.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) rose from 50.4 in August to 50.9 in September, according to a release provided by Nikkei and IHS Markit.