Indonesia's Economic Growth Below Vietnam's

Economics & Macro

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23/05/2017 11:00 WIB

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Asian Countries' Economic Growth in Q1 2017

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Asian Countries' Economic Growth in Q1 2017

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Indonesia's economy grew by 5.01 percent in the first quarter of 2017 compared to the same quarter of the previous year. This achievement in the first three months of 2017 was below Vietnam's growth of 5.1 percent. China still led economic growth in the Asian region, at 6.9 percent, followed by the Philippines at 6.4 percent and Malaysia at 5.6 percent.

Indonesia's Gross Domestic Product (GDP) in the first quarter of 2017, based on 2010 constant prices, grew by 5.01 percent to Rp 2.38 quadrillion (thousand trillion) from the same quarter of the previous year. Meanwhile, the GDP at current prices in the first quarter of 2017 grew by 10.01 percent to Rp 3.23 quadrillion from the same quarter of the previous year. Household consumption remained the main driver of domestic economic growth, accounting for more than 50 percent.

The 2017 State Budget targets Indonesia's economic growth at 5.1 percent. Meanwhile, the 2018 State Budget draft targets domestic economic growth of 5.4-6.1 percent.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."