Indonesia's Economy Grew 5.17% in the Third Quarter of 2018

The Central Statistics Agency (BPS) released Indonesia's economic data for the third quarter of 2018. Measured by Gross Domestic Product (GDP) at constant prices, the economy grew by 5.17% to Rp 2,684.2 trillion compared to the same quarter of the previous year (YoY). Compared to the previous quarter, it grew by 3.09% (QoQ). At current prices, the national economy from July to September 2018 reached Rp 3,835.6 trillion. As a result,

the national economy from January to September 2018, measured by GDP at constant prices, grew by 5.17% to Rp 7,786.56 trillion from Rp 7,403.82 trillion in the same period of the previous year. At current prices, the economy from January to September 2018 reached Rp 11,026.22 trillion, exceeding the previous period's Rp 10,098.19 trillion.

(Read Databoks: Indonesia's Largest Economy in Southeast Asia)

Economic growth in the third quarter of 2018, based on business sectors, was supported by the wholesale and retail trade sector, contributing 0.69% to growth. This was followed by the construction sector (0.57%), agriculture (0.49%), and information and communication (0.45%). Based on expenditure, household consumption still dominated economic growth, contributing 55.26%, followed by Gross Fixed Capital Formation (GFCF) at 32.12%, and government consumption growing by 8.7%.