Indonesia’s Economic Growth Disappoints as Exports Slump

(Bloomberg) -- Indonesia’s economic growth slowed in the first quarter amid a global slowdown that hurt the nation’s exports.

Gross domestic product, the broadest measure of goods and services produced in the economy, rose 5.07 percent in the first quarter from a year ago, lower than the 5.2 percent median estimate in a Bloomberg survey of economists. Compared with the previous quarter, GDP fell 0.52 percent versus an estimated contraction of 0.42 percent.

Key Insights

Get More

• There are questions over whether the economy can hit the government’s projections for 2019 amid a slump in manufacturing. Satria Sambijantoro, an economist from PT Bahana Sekuritas in Jakarta, said tax revenue from Indonesia’s manufacturing sector, the largest contributor to GDP and which normally accounts for about a third of total tax revenue, fell almost 9 percent in the first quarter
• Click here for a breakdown of the GDP numbers

©2019 Bloomberg L.P.