Indonesia’s GDP accelerates to 5.18% in Q2, better than expected

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Photo by BPS

JAKARTA (TheInsiderStories) – Indonesia’s gross domestic product (GDP) rose to 5.18 percent in the second quarter of 2016, compared to 4.02 percent in the same period a year ago, the Central Bureau of Statistic (BPS) announced on Friday. 

The country’s GDP recorded growth of 4.92 percent in the first quarter 2016, contracted by 0.34 percent from the fourth quarter 2015 (quarter to quarter) , but grew higher compared to 4.73 percent in the firs quarter last year (year-on-year).

Head of the Central Statistics Agency (BPS) Suryamin said, there are some events in the country and abroad that affected Indonesia’s economic growth.

“The minimum deceleration ramps in 2015 and is now beginning to increase,” he said at his office, Central Jakarta, Friday (08/05/2016).

The following factors that influenced the economy are;
1. The non-oil commodity prices in general i creased the second quarter;
2. Average ICP rose from 30.2 per barrel to 42.13 per barrel, up 39.49%;
3. Inflation 3.45% yoy (June);
4. BI Rate fell 6.75% in March 2016 to 6.5% (June);
5. The realization of government spending in the second quarter of 2016 amounted to Rp 474.28 trillion, up from the second quarter of 2015 amounted to Rp 384.74 trillion;
6. Realized investment of Rp 151.6 trillion, up 3.5% qtq;
7. From the production side there is a shift in harvest period;
8. Car production reached 316,351 units, up 10.96% yoy and 13.36% qtq;
9. Production of cement reached 14.40 million tons, up 3.34% yoy and 7.82%  qtq;
10. The number of tourists reached 2.67 million visits, up 2.15% yoy and 5.83% qtq;

While the influencing factors from abroad are as follows;
1. The rate of economic growth in some  trading partners vary;
– United States (US) economic growth slowed from 1.6% to 1.2%;
– China’s growth was stagnant at 6.7%;
– Singapore 2.1% to 2.2%;
– South Korea from 2.8% to 3.1%;
2. The increase in commodity prices.

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Source: The Insiderstories
Indonesia’s GDP accelerates to 5.18% in Q2, better than expected

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