Latest Stories

Indonesian quarterly growth slowest since 2010

Workers erect an iron reinforcement column at a high rise office construction site in Jakarta on Monday, May 6, 2013. The Indonesian economy expanded by 6.02 percent in the first quarter, official data showed Monday, the slowest pace for more than two years as exports fell due to the weak global economy. AFP PHOTO/ROMEO GACAD

JAKARTA—Indonesia’s economy expanded by 6.02 percent in the first quarter, official data showed Monday, the slowest pace in more than two years as exports fell due to the weak global economy.

It was the slowest quarterly, year-on-year growth in Southeast Asia’s biggest economy since the third quarter of 2010 and came in below forecasts. The economy grew 6.11 percent in the fourth quarter of last year.

Exports fell by 4.33 percent compared to the previous quarter, according to the statistics agency. Economists attributed the slowing growth to a fall in demand for commodities.

Indonesia is the world’s biggest producer of palm oil—found in a wide variety of everyday goods from soap to cosmetics and biscuits—and also a major exporter of coal, tin and rubber.

Many firms were experiencing “lower demand for commodities, not only in Europe and the US but in China as well,” said Bank Danamon Indonesia chief economist Anton Gunawan.

Nine economists surveyed by Dow Jones Newswires had forecast first quarter growth of 6.10 percent.

Last month, concerns about the weak recovery in the global economy led the central bank to lower its growth forecast for this year to 6.2-6.6 percent from 6.3-6.8 percent.

The economy grew 6.23 percent in 2012.

Despite the slight slowdown, Indonesia still has one of the best growth rates in the world, driven by strong domestic consumption and high levels of foreign investment.

Monday’s data will reduce the likelihood of the central bank hiking interest rates anytime soon from 5.75 percent, where they have been for more than a year, analysts said.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: economy , Growth , Indonesia

  • CmdrAdobo

    opposite reactions. while indonesia is not so happy about it, pinas parang nag piyesta umaangat lang 6%. Oh yeah election time. Government just love to confuse the ordinary people.

    • Chrisnadal19

      Do you know why we are happy about it? because it’s hard to achieve as our growth rates were historically low.. but once we get used to those high growth rates, don’t expect any celebration. Give some credit to the govt.

      • CmdrAdobo

        I know. but can we just relax? I think we deserve better. Ill never credit to govt who is busy campaigning now. Should do more important work.

      • Chrisnadal19

        it’s already given..it’s election time.. kahit saan sa mundo, pag election time, busy ang mga poltiko.

  • keen barcelo

    Almost twin economies, can collaborate w/ each other for faster growth.

  • buttones

    Can somebody tell me what PH first quarter results are? I seem to have missed it somewhere- thank you…

    • Remrick Patagan

      The results aren’t out yet, they are likely to be released in the last week of the month. :)

      • buttones

        So AFTER the election then, thank you.[Two months to produce?]

      • Remrick Patagan

        Yes. They follow a schedule of releasing the numbers. It usually takes longer to come out with first quarter data compared to the rest of the quarters.

      • buttones

        Thank you , from one who was schooled on the idea it was better to ask a really stupid question than make a realy stupid mistake – Why?

      • Remrick Patagan

        Why, as in why do they have the said schedule? Beats me, to be honest. :)

  • lagalagdude

    Go Philippines, beat the Indonesia.

    • http://www.facebook.com/alfredtorreiglesias Alfred Christian Torreiglesias

      as if… lagalagdude is another retarded Pinoy na nakikipa competencia kahit walang namang utak at pera

      • lagalagdude

        Dont say I dont have money and brain. to tell you honestly I pity you. You have a crab mentality . I can even buy you.

      • http://www.facebook.com/alfredtorreiglesias Alfred Christian Torreiglesias

        Cge nga!!!! Ano puede mo ipambayad saken hampaslupang pataygutom???

  • Diablo_III

    magkano kaya sa Pilipinas?

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace