Indonesian Economic Growth Reaches 5.07 Percent in Q1 2019

 Compared with quarter I-2018 (y-on-y), the Indonesian economy in the first quarter-2019 grew 5.07 percent. "Growth is supported by all business fields, with the highest growth achieved by Corporate Services of 10.36 percent; followed by Other Services at 9.99 percent; Information and Communication at 9.03 percent; and Water Supply, Waste, Waste and Recycling Management amounted to 8.95 percent, "Head of the Central Statistics Agency (BPS) Suhariyanto said in a press statement at the Central BPS office, Jakarta, Monday (05/5/2019).

Based on the sources of Indonesia's economic growth in quarter I-2019 (y-on-y), according to the Head of BPS, the highest source of growth came from the Processing Industry Business Field by 0.83 percent; followed by Big-Retail Trade, Car-Motorcycle Repair by 0.70 percent; Construction of 0.59 percent; and Information and Communication by 0.47 percent. While Indonesia's economic growth from other business fields amounted to 2.48 percent. Suhariyanto explained, Indonesia's economic growth in the first quarter-2019 against quarter IV-2018 (q-to-q) was marked by seasonal factors in the expansive growing Agriculture, Forestry and Fisheries Business Field of 14.10 percent.

Positive growth also occurred in the Financial Services and Insurance Business Field at 3.33 percent; Information and Communication of 2.77 percent; Real Estate at 2.52 percent; Company Services of 2.44 percent; and several other business fields. However, the business sector growth mentioned above is not enough to resist the contraction in Indonesia's economic growth in the first quarter of 2019 by 0.52 percent. "This is caused by contraction in growth in some business fields that have major contributions such as: Construction; Mining and excavation; Transportation and Warehousing; and Government Administration, Defense and Mandatory Social Security, "Suhariyanto explained. According to BPS Head Suhariyanto, Indonesia's economic growth in quarter I-2019 against quarter I-2018 (y-on-y) occurred in almost all components. The highest growth was achieved by Non-Profit Institution Consumption Components serving Households (PK-LNPRT) of 16.93 percent; followed by the Component of Government Consumption Expenditure (PK-P) of 5.21 percent; and the Gross Fixed Capital Formation (PMTB) Component of 5.03 percent.

Based on the sources of Indonesia's economic growth in quarter I-2019 (y-on-y), continued the Head of BPS, the highest source of growth came from the Household Consumption Expenditure Component (PK-RT) of 2.75 percent, followed by the PMTB Component of 1.65 percent . While the source of economic growth from other components is 0.67 percent. Growth contraction Head of BPS Suhariyanto explained, Indonesia's economy in the first quarter of 2019 against quarter IV-2018 (q-to-q) contracted by 0.52 percent. This is due to the negative growth that occurs in almost all components of GDP expenditure, except the PK-LNPRT Component and PK-RT Components which grew by 6.58 percent and 0.04 percent respectively. He said, the structure of the Indonesian economy spatially in the first quarter-2019 was still dominated by the group of provinces in Java Island which contributed 59.03 percent to Gross Domestic Product; then followed by Sumatra Island at 21.36 percent, Kalimantan Island 8.26 percent; and Sulawesi Island 6.14 percent; and the remaining 5.21 percent were donated by other islands, including Bali and Nusa Tenggara, and Maluku and Papua by 3.02 percent and 2.19 percent respectively.