Indonesia's Economy Grew by 5% in the First Quarter of 2017

The Central Statistics Agency (BPS) recorded that Indonesia's economy grew by 5.01 percent in the first quarter of 2017. This figure is higher than the first quarter of the previous year, which was 4.92 percent, and also above the fourth quarter of 2016, which was 4.94 percent. This quarter's growth is the highest compared to the first quarter of 2014 and the first quarter of 2015. The Gross Domestic Product (GDP) at constant 2010 prices in the first quarter of 2017 reached Rp 2.38 quadrillion, an increase from the same period the previous year.

According to the Head of BPS, Suhariyanto, economic growth in the first three months was supported by improved export performance, recording a surplus throughout January-March 2017. In addition, improved global commodity prices and a more stable global economic condition also contributed to the improvement in the domestic economy.

The manufacturing industry sector provided the highest growth source in the first quarter of 2017, namely 0.91 percent; followed by the agriculture, forestry, and fisheries sector at 0.9 percent. Then the wholesale/retail trade, repair of motor vehicles and motorcycles sector contributed 0.64 percent; and construction at 0.61 percent.