Indonesia's GDP Slows Down to 6.02 Percent in Quarter 1 - 2013
Today, Statistics Indonesia released Indonesia's economic growth figure for the first quarter of 2013. Compared to Q1-2012, Indonesia's gross domestic product (GDP) grew 6.02 percent. This growth was supported by almost every sector except for Mining and Extracting, which fell 0.43 percent (YoY), indicating that natural resources are still not back on track. The largest contributor to Indonesia's Q1-2013 growth is Transportation and Communication, which grew 9.98 percent.
However, the result is disappointing as the 6.02 percent growth is the slowest pace of growth in over two years time. According to Chairman of Statistics Indonesia, Suryamin, Indonesia's GDP based on current prices in Q1-2013 was IDR 2,146.4 trillion (USD $220.37 billion). Two important pillars of economic growth in Indonesia, e.g. domestic consumption and foreign investments, grew 5.17 percent and 5.9 percent respectively (YoY).
As has been seen throughout history, the island of Java contributes most to the country's economic growth. Indonesia's most populous island accounts for 57.79 percent of Indonesia's GDP, followed by Sumatra with 23.99 percent.
Largest Contributors to Indonesia's GDP growth in Q1-2013:
|Field of Business|| Growth
|Transportation and Communication
|Finance, Real Estate, & Business Services||8.35%|
|Electricity, Gas and Clean Water||6.54%|
|Trade, Hotel and Restaurant||5.52%|
| GDP Growth
|Quarter 1 - 2012
|Quarter 2 - 2012||6.4%|
|Quarter 3 - 2012||6.2%|
|Quarter 4 - 2012||6.1%|
|Quarter 1 - 2013||6.0%|