Indonesia's economy expands 5.02 percent in 2019 (Photo: Reuters)
Jakarta (VNA) – Indonesia posted an economicgrowth rate of 5.02 percent in 2019, the lowest since 2015, StatisticsIndonesia (BPS) announced on February 5.
The pace slowed down from 5.17 percent in 2018and is also lower than the 5.3 percent targeted for 2019, which is attributedto weakening investments and exports.
BPS head Suhariyanto told reporters during apress briefing that the Indonesian economy grew 4.97 percent year on year inthe fourth quarter of 2019, the slowest since Q4 of 2016.
However, he noted it was not easy to stay at the5-percent level, and the growth is still good enough amid the global economicslowdown.
Despite impact of the US-China trade dispute,the country’s growth was buoyed by relatively strong household spendingthroughout 2019.
Household spending, which accounts for more thanhalf of Indonesia’s GDP, grew by 5.04 percent last year, compared to the 5.05percent in the previous year because of falling vehicle sales.
Investment – the second largest contributor toGDP growth – increased 4.45 percent last year, a sharp decline from the6.67-percent increase recorded in 2018.
Government spending rose 3.25 percent from 4.8percent in 2018, while exports and imports contracted 0.87 percent and 7.69percent, respectively, last year./.
Indonesia’s new capital city will contribute only an additional 0.02 percentage point to the country’s economic growth, and the impact will also be short lived, according to Institute for Development of Economics and Finance (Indef) research.
Indonesian President Joko Widodo has recently issued a government’s decree on special economic zones (SEZs) in order to draw over 50 billion USD into them in the next decade.
The Statistics Indonesia (BPS) has started to include prices of services provided by ride-hailing providers Gojek and Grab in the country's inflation calculation.
Indonesia and Singapore have reached many important agreements, including a deal on avoiding double taxation, during the on-going visit to Indonesia by Singaporean President Halimah Yacob.
Indonesian President Joko Widodo has instructed the assessment of the impact caused by the novel coronavirus (nCoV) on the country’s economy, particularly its trade with China.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia's economy expands 5.02 percent in 2019 (Photo: Reuters) 
