Indonesia's Q2 2016 Economy Exceeds Expectations

The Central Statistics Agency (BPS) recorded economic growth in the second quarter of 2016 reaching 5.18 percent, exceeding government expectations. Initially, Coordinating Minister for the Economy Darmin Nasution projected that the second quarter of 2016 would only grow at 5.1 percent.

This achievement not only surpassed government expectations but also exceeded the first quarter of 2016's economic growth of 4.92 percent and was significantly higher than the second quarter of 2015's 4.66 percent.

According to Darmin, economic growth was driven by a shift in the harvest season from the first to the second quarter, and an increase in the domestic economy over the past three months, as evidenced by data on exports and imports, retail sales, motor vehicle sales, and credit growth.