Indonesia GDP Shrinks 2.06% in Q4

Indonesia's GDP contracted 2.06 percent in the last quarter of 2014, following a revised 3.16 percent growth in the previous quarter. It is the slowest expansion since the fourth quarter of 2009, as an increase in government spending, investment and exports were unable to offset a rising imports and a plunge in private consumption.

On the expenditure side, private consumption rose 0.03 percent, plummeting from a 3.67 percent expansion in the third quarter, mainly due to the government's decision to raise fuel prices in mid-November. Government expenditure surged 43.28 percent after posting a 4.74 percent  growth in the third quarter, while non-profit institution serving households spending rose by 1.46 percent, following a 10.29 percent drop in the previous quarter. Investment activities advanced 2.99 percent, faster than a 2.47 percent expansion in the preceding quarter. Exports grew 4.32 percent, following a 0.59 percent frowth in July to September quarter. Meanwhile, imports rose 8.17 percent, rebounding from a 5.28 percent fall in the previous period.

On the production side, the agriculture declined the most by 22.44 percent, followed by wholesale and retail sector; bicycle and car reparation sector (-3.35 percent). In contrast, education services sector rose the most by 12.08 percent, followed by mining & quarrying (+3.89 percent), construction (+4.99 percent) and health services and social activities (+6.12 percent).

Year-on-year, the economy advanced 5.1 percent, the same expansion as in the third quarter, the slowest in five years.

For full year of 2014, the GDP grew 5.02 percent, following a 5.58 percent expansion in the preceding year.

Indonesia GDP Shrinks 2.06% in Q4

Statistics Indonesia l Rida Husna l
2/5/2015 9:53:47 AM