In the first quarter, GDP grew 6.5% over the same quarter the year before. The reading was down from the 6.9% expansion observed in the previous quarter and a notch below market expectations of a 6.6% increase. Growth in the first three months of the year was mainly driven by strong demand from domestic consumers. Private consumption increased 4.5% year-on-year (Q4 2010: +4.4% year-on-year), while investment added 7.3% (Q4 2010: +8.7% yoy). Exports of goods and services grew 12.2% in the first quarter, down from 16.1% in the fourth. At the same time, imports expanded 15.6%, below the growth of 16.9% observed in the previous quarter. As a result, the net contribution from the external sector to overall growth fell from 1.6 percentage points in the fourth quarter to 0.1 percentage points in the first. At the sector level, the growth was led by an increase in services, which expanded 8.3% (Q4 2010: +8.9% yoy), boosted by transport and communication as well as the trade, hotel and restaurants sub-sectors. The industry sector grew 4.9% in the first quarter (Q4 2010: +5.0% yoy), led by buoyant manufacturing activity. Finally, agriculture expanded 3.5% in Q1 (Q4 2010: +3.8% yoy). The Central Bank expects economic growth to settle within the range of 6.0% and 6.5% in 2011 and between 6.1% and 6.6% in 2012.
Robust growth in the first quarter boosted by strong domestic consumption
May 5, 2011
Looking for forecasts related to GDP in Indonesia? Download a sample report now.
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.