In the First Quarter of 2016, Indonesia’s Economic Growth Reaches 4.92 Percent
The Central Statistics Agency (BPS) informed that Indonesia’s economy based upon Gross Domestic Product (GDP) over current prices in the first quarter of 2016 reached Rp2.947,6 trillion and over constant prices of 2010 reached Rp2.262,6 trillion.
“Indonesias economy in the first quarter of 2016 against first quarter of 2015 grew by 4.92 percent (y-on-y) increase compared to the same period in 2015 by 4.73 percent,” said Suryamin, Chief of BPS to the reporters, at BPS Central Office, Jakarta, Wednesday (4/5) afternoon.
However, compared to Indonesia’s economic growth in the previous quarter (q-to-q), according to Suryamin, economic growth in the first quarter of 2016 decreased by 0.34 percent.
He mentioned, in terms of production, the highest growth was reached by Financial Services Business Sector and Insurance by 9.10 percent. In terms of expenditure, the highest growth was reached by Consumption Expenditures of Non Profit Institutions serving Households (NPISHs) component that grew by 6.38 percent.
In terms of production, according to Suryamin, the decline was caused by contraction in several business fields. In terms of expenditure, the decline was caused by the contraction of the investment component (minus 5.75 percent) and exports (minus 3.44 percent).
Regarding Indonesia’s economic structure, Chief of the BPS Suryamin, said that the first quarter of 2016 was spatially dominated by provinces in Java and Sumatera.
He said that provinces in Java gave the biggest contribution to the GDP, which amounted to 58.91 percent, followed by Sumatera at 22.15 percent, and Kalimantan at 7.67 percent. Meanwhile, the highest growth was achieved by Sulawesi. (Humas BPS/ES)(MA/YM/Naster).