JAKARTA: Indonesia’s business grew 4. 87 per cent in the first quarter from a year earlier, its weakest growth rate in more than three years, official data showed on Monday ( May 5 ), compared with a 4. 91 per cent growth price expected by researchers in a Reuters surveys.
The January-March development was the slowest since the second quarter of 2021 and over from 5. 02 per share in the previous quarter.
On a non-seasonally adjusted, quarter-on-quarter base, gross domestic product contracted 0. 98 per share, Statistics Indonesia information showed.
Resource-rich Indonesia’s economic progress has hovered around 5 per cent since the crisis.
President Prabowo Subianto, who took office last month, has pledged to raise that to 8 per cent during his five-year name, but is facing challenges from slowing global development amid a business war, as well as weakening local need and a tighter budget position.
US-bound imports from Southeast Asia’s biggest market could be hit by massive taxes in coming weeks, with Jakarta discussing business with Washington.
In the first three weeks of 2025, family investing, which makes up over half of the region’s GDP, grew 4. 89 per share every, the slowest pace in five rooms, despite higher paying during the fasting month of Ramadan and Eid al-Fitr holidays. Ramadan fell in March this time.
Purchase progress at 2. 12 per cent was the lowest in two decades, while federal spending contracted.
There was an boost in the online trade commitment to GDP due to weakening goods.
The mining business shrank about 1 per cent annually, affected by a decline in fuel prices and weaker demand from foreign buyers, while repair lowered output at the Grasberg copper and gold mine operated by Freeport McMoRan.
The agriculture industry provided one vivid place in the data, with 10. 5 per cent development, boosted by stronger corn and wheat crops compared with the prior month.