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  HOME | Business & Economy (Click here for more)

Indonesia’s GDP Grew 5.06% in Third Quarter

JAKARTA – The Indonesian GDP grew 5.06 percent between July-September with respect to the same period in 2016, the Central Bureau of Statistics said on Monday.

Exports grew 17.27 percent in the third quarter of 2017, while imports rose 15.09 percent and investment jumped 32 percent.

Government spending climbed 3.46 percent between July-September after declining 1.93 percent in the previous quarter.

The Asian Development Bank had said in September that strong investment and exports in Indonesia, Southeast Asia’s largest economy, had supported a healthy pace of growth in the region in the first half of 2017.

The ADB had also retained its GDP growth forecast for the country – with a population of 261 million and a GDP of $932.3 billion and a per-capita GDP of $3,570 – at 5.1 percent for 2017 and 5.3 percent for 2018.

After taking office in 2014, Indonesian President Joko Widodo had announced an annual GDP growth target of 7 percent, which the country has been unable to achieve so far.

 

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