Indonesian Economy Shows Fastest Growth In Southeast Asia

Jakarta - Official statistics showed on Monday that Indonesia still had the fastest-growing  economy in Southeast Asia, with improving prices for the country`s key export commodities and a robust domestic market credited for the good result.

The country`s gross domestic product growth of 4 percent in the second quarter placed Indonesia among the top three fastest growing economies in Asia, the Central Statistics Agency (BPS) said. China posted more than 7 percent growth in the same period.

Most of the growth in Indonesia came from the resilient domestic economy, which accounted for about 60 percent of the figure. However, the 4 percent gain from April to June was lower than the 4.4 percent growth posted in the first quarter of the year, a sign that the global economic slump is taking its toll here, primarily on the nation`s export sector.

But the worst of the recession may now be over. Prices of the country`s main exports — such as oil and gas, and commodities like mined metals, coal and crude palm oil  — have improved in the past few months. The nation`s exports, while still in decline, did not perform as badly as in the previous quarter.

Source: http://thejakartaglobe.com
Photo: http://www.makassarkota.go.id

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