Indonesia reports GDP growth of 5.01 percent in Q2
Indonesia posted a 5.01 percent growth in GDP in the second quarter, slightly slower than expected, local media reported, citing official statistics of the Central Bureau of Statistics (BPS).
Indonesia posts a 5.01 percent growth in GDP in the second quarter of 2017 (Photo: Four Seasons)
Jakarta (VNA) – Indonesia posted a 5.01 percent growth in GDPin the second quarter, slightly slower than expected, local media reported,citing official statistics of the Central Bureau of Statistics (BPS).
Some experts said it would be difficult to meet the Government’s goal of5.2 percent growth this year, noting that private consumption, the main drivingforce of the economy, is slowing down, with an increase of just 0.01 percent ona quarterly basis. The weakening purchasing power could be seen in the lowergrowth of the commercial sector at 3.78 percent in Q2, compared to Q1’s 4.96percent.
However, the Bank of Indonesia is confident that the country can achievethe target.
The bank said Indonesia’s foreign reserves rose by 4.7 billion USD inJuly to top 127.76 billion USD, equivalent to nearly 9 months of imports, wellabove the international standards at three months of imports.
According to the bank, the nation’s foreign exchange reserves are ableto strengthen the resilience of the external sector and maintain thesustainability of Indonesian economic growth.-VNA
Indonesia earned 11.64 billion USD from export in June, in comparison to the same period last year’s 12.92 billion USD overseas shipment, according to the national statistics bureau.
Foreign debt of Indonesia rose 5.5 percent year-on-year to 333.6 billion USD in May while public debt increased 11.8 percent to 168.4 billion USD, reported the Central Bank of Indonesia (BI).
The flow of foreign direct investment (FDI) into Indonesia rose significantly in the second quarter of this year from tiny gains in the first three months, reported the country’s Investment Coordinating Board.
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Foreign direct investment (FDI) in Indonesia rose by 10.6 percent to 8.2 billion USD in the second quarter of 2017, according to statistics released by the country’s Investment Coordinating Board (BKPM).
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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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Indonesia posts a 5.01 percent growth in GDP in the second quarter of 2017 (Photo: Four Seasons) 
