Economic Growth 2007-2013 (annual percentage change)

 Year    Quarter I
   Quarter II    Quarter III    Quarter IV
 2013        6.02        5.81           -           -
 2012        6.29        6.36        6.16        6.11
 2011        6.45        6.52        6.49        6.50
 2010        5.99        6.29        5.81        6.81
 2009        4.60         4.37        4.31        4.58
 2008        2.41        2.77        3.74       -3.57
 2007        2.00        2.40        3.90       -2.10

Source: Statistics Indonesia (BPS)

The government's target for GDP growth in 2013 is set at 6.3 percent in the State Budget (APBN) but it will be difficult to realize. Recently, Indonesia's central bank already downgraded its forecast for economic growth from the 6.2 - 6.6 percent range to 5.8 - 6.2 percent. Various other institutions, including the IMF and Credit Suisse, have also lowered their forecast for Indonesia's economic growth to below six percent.

Global demand for Indonesia's commodities is still weak and in combination with strong domestic demand for foreign products (particularly oil), it has resulted in a trade deficit of USD $3.31 billion in the first half of 2013. The country's total exports amounted to USD $91.05 billion in Semester I-2013, while imports stood at USD $94.36 billion. The trade deficit is expected to continue at least until the end of this year.

Inflation accelerated significantly to 8.61 percent (YoY) in July 2013.

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