Indonesia’s economy sees highest growth since late 2013
Indonesia’s economy expanded 5.27 percent in the second quarter of 2018, the highest growth rate since the fourth quarter of 2013, thanks to growing domestic consumption.
Hanoi (VNA) – Indonesia’s economy expanded 5.27 percent in the secondquarter of 2018, the highest growth rate since the fourth quarter of 2013,thanks to growing domestic consumption.
Statisticsreleased on August 6 showed that the economic growth of Southeast Asia’slargest economy in the second quarter is higher than the figure of 5.06 percentrecorded in the first quarter of 2018.
However,there are factors that are likely to hinder Indonesia’s economic growth such ashigher US interest rates and adverse impacts from the US-China trade war whichmight affect the Southeast Asian country’s exports.
Householdconsumption, which accounts for more than half of Indonesia’s gross domesticproduct (GDP), grew 5.14 percent as compared to the same period last year.
Meanwhile,the growth of investment – the second biggest growth driving force ofIndonesia, slowed down to 5.87 percent in the second quarter of 2018 aftersurging over 7 percent in the three previous quarters.
TheIndonesian government is reviewing the import of production materials andinfrastructure projects in a bid to narrow the current account.
CapitalEconomics said that Indonesia is not likely to maintain a high growth pace likein the second quarter as its salary hike may spur household consumption but italso can cause headwinds.
Thefalling global demand for dropping prices of key export staples such as coaland palm oil will also affect Indonesia’s export revenues.-VNA
Indonesia's economy is forecast to grow at a slower rate in the first quarter of this year despite the government's efforts to boost buying power and exports.
The Asian Development Bank (ADB) projected that Indonesia's economy will grow by 5.3 percent annually in 2018 and 2019 thanks to improving investment and household consumption.
Moody’s Investors Service upgraded its credit rating for Indonesia on April 13, praising the country’s central bank and government policies for boosting confidence in the largest economy of Southeast Asia.
The World Bank (WB) has projected that the Indonesian economy would grow 5.2 percent this year, higher than the figure of 5.18 percent put forward by the country’s government.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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A corner of Jakarta (Photo: nowjakarta.co.id) 
