Indonesia GDP Grows 5.01% in Q4


The Indonesian economy expanded 5.01 percent year-on-year in the fourth quarter of 2014, slightly up from a revised 4.92 percent increase in the previous period and above market expectations. Yet, considering full 2014, the GDP expanded at its slowest pace in five years, hurt by a slowdown in private and public spending and lower exports.

Considering 2010 as the new base year, exports fell 4.53 percent yoy in the last three months of 2014, following a 0.7 percent decline in the third quarter, while imports rose 3.22 percent, rebounding from a 3.63 percent fall in the July to September period. Government spending expanded 2.83 percent after registering a 4.37 percent decline in the previous three months. Private consumption grew 5.01 percent, slowing from a 5.44 percent growth in the preceding period and gross fixed capital formation grew 4.27 percent from a 4.02 percent expansion in the third quarter. In contrast, non-profit institutions serving household spending shrank 0.23 percent.

On the production side, finance service and insurance recorded the highest annual growth rate of 10.20 percent, followed by the information and communication sector (+10.03 percent); the company services (+9.69 percent); other service (+8.37 percent); construction (+7.67 percent); transport and warehouse (+7.15 percent);  governance administration, defense and mandatory social security (+6.86 percent);education service (+7.13 percent), gas and electricity (+6.50 percent), health service and social activities (+6.09 percent), real estate (+5.30 percent); accommodation and food and beverages (+4.86 percent); processing industry (+4.24 percent); wholesale and retail trading, bicycle and car reparation (+3.46 percent); water supply, waste handling and recycling (+2.65 percent);agriculture (+2.77 percent) and  mining & quarrying (+2.22 percent)

On a quarter-on-quarter basis, the economy shrank 2.06 percent, following a revised 3.16 percent increase in the previous quarter. Private consumption rose 0.03 percent (3.67 percent in the third quarter). Goverment consumption accelerated 43.28  percent, after a 4.74 percent growth in the preceding period; non-profit institutions serving households spending rose 1.46 percent and investment grew 2.99 percent from a 2.47 percent expansion in the July to September quarter. Exports advanced 4.32 percent, accelerating significantly from a 0.59 percent growth in the previous period, while imports rose 8.17 percent, following a 5.28 percent growth in the earlier period.

For full 2014, Indonesia's economy grew 5.02 percent, compared to a 5.58 percent expansion in the previous year. Exports recorded the lowest increase (1.02 percent), followed by government spending (1.98 percent) and imports (2.19 percent). Private consumption expanded 5.14 percent afd investment grew 4.12 percent. 

Indonesia GDP Grows 5.01% in Q4


Statistics Indonesia l Rida Husna l rida@tradingeconomics.com
2/5/2015 9:50:30 AM