Indonesia`s economy slows in third quarter

"Indonesia`s economy grew only 5.62 percent in the third quarter," chief of the National Bureau of Statistics, Suryamin, said,
Jakarta (ANTARA News) - Indonesias economy has slowed in the third quarter this year, growing only 5.62 percent (year-on-year) from 5.81 percent in the previous quarter.

"Indonesias economy grew only 5.62 percent in the third quarter," chief of the National Bureau of Statistics, Suryamin, said here on Wednesday.

Cumulatively, Indonesias GDP grew 5.83 percent compared with the same period last year, he stated.

Sectors that recorded the highest growth were transportation and communication at 10.46 percent, followed by real estate and housing at 8.09 percent and construction at 6.24 percent.

Compared with the previous quarter, sectors that recorded the highest growth are agriculture, animal husbandry, forestry and fisheries at 6.16 percent, followed by construction at 3.35 percent and transportation and communication at 3.28 percent.

Suryamin noted that processing industries contributed 1.25 percent to the 5.62 percent growth in the third quarter, while hotels and restaurants provided 1.87 percent; transportation and communication, 1.05 percent; and finance, real estate and service companies, 0.77 percent.

Services, meanwhile, contributed 0.52 percent; agriculture, animal husbandry, forestry, fisheries, and construction, 0.41 percent each; mining and extracting, 0.11 percent; and electricity, gas and clean water, 0.03 percent.

In terms of expenditures related to the GDP growth compared with that of the same period last year, government consumption contributed 8.83 percent, while household consumption contributed 5.48 percent; investment, 4.51 percent; exports, 5.26 percent; and imports, 3.8 percent.

"This indicates an acceleration in budget absorption by the government, especially for non-operational purposes and services. Expenditures for social assistance also increased compared with the previous quarter," he said.

Cumulatively, the growth of expenditures in the GDP until the third quarter of 2013 was recorded at 5.83 percent, dominantly contributed by household spending at 5.29 percent; gross fixed capital formation, 4.81 percent; government consumption, 4.05 percent; exports, 4.56 percent; and imports, 1.38 percent.

In terms of structure, the countrys economic growth in the third quarter is still dominated by provinces on Java Island contributing 58.2 percent to the GDP, followed by Sumatra, 23.75 percent; Kalimantan, 8.45 percent; Sulawesi, 4.87 percent; and Maluku and Papua, 2.19 percent, he said.(*)