Indonesia`s growth reaches five-year high of 5.17 percent in 2018

07 Februar, 2019 | Source: Antara News

Indonesia`s economic growth reached a five-year high of 5.17 percent in 2018, mostly fueled by household consumption, investment, and government spending, according to the Central Statistics Agency (BPS).

The 5.17 percent growth was a good achievement in view of pressure from global economic uncertainty, BPS Chief Suhariyanto stated here on Wednesday.

"In the midst of global economic pressure, including the Fed rate hike, and the start of a trade war, the Indonesian economy could grow 5.17 percent. Indeed, we are not the best, but our achievement remains good," he remarked.

Just in the fourth quarter of 2018, the national economy expanded 5.18 percent.

On a yearly basis, the Indonesian economy grew 5.01 percent in 2014 and slowed down to 4.88 percent in 2015.

The national economy recovered to 5.03 percent in 2016 and further moved to 5.07 percent in 2017.

"We must consider the arising and unpredictable pressures, including external ones. Admittedly, this year`s growth falls short of the target set in the medium-term national development plan (RPJMN)," he stated.

In the 2018 state budget, the government had set the target of economic growth for last year at 5.4 percent.

Despite growing 6.48 percent as compared to 2017, exports` contributions to the 2018 economic growth contracted 0.99 percent. The export performance was also lower than the import growth that surged to 12.04 percent.

"The negative export performance reduces the economic growth," he remarked.

Contributors to the 2018 economic growth were household consumption, at 2.74 percent; investment, 2.17 percent; and government spending, 0.38 percent. Household consumption grew 5.05 percent, investment rose 6.67 percent, and government spending increased 4.3 percent.


Indonesia′s state-owned enterprise producing military and commercial products, PT Pindad, has planned to develop Anoa 3 panzer to be known as Anoa desert, which would then be exported to Middle East countries.
Indonesia′s delegation and other Council of Palm Oil Producing Countries (CPOPC) members have steadfastly and vehemently expressed their objection to the European Union (EU) over discrimination against palm oil.
At the Alliance for Multilateralism forum held in New York, USA, on April 2, Indonesian Foreign Affairs Minister Retno Marsudi called on international cooperation for the United Nation Security Council.
Indonesian Vice Minister of Foreign Affairs A.M. Fachir voiced the Indonesian government′s steadfast commitment to boosting the nation′s food security and guaranteeing the welfare of farmers.
The government has said Indonesia will accelerate the mandatory use of 30 percent blended biodiesel ( B30 ) in anticipation of the European Union’s move to ban palm oil-based biofuel in its member countries.
The Indonesia-South Pacific Forum (ISPF) held a business event themed "Connecting Peoples for Sustainable Growth" in Jakarta to strengthen Indonesia and the South Pacific countries′ relations.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669