JAKARTA (TheInsiderStories)Indonesia’s gross domestic product (GDP) expanded 5.27 percent in the second quarter of this year (year on year/yoy) or the highest since 2013, supported by growth in household consumption, investment, and exports.

It was higher than economic growth in the first quarter of this year that reached 5.06 percent. The GDP in the second quarter of this year reached Rp3.683.9 trillion.

Central Statistics Agency Head Suhariyanto said on Monday (6/8) household consumption grew 5.14 and accounts for 55.42 percent of GDP. It followed by investment 5.87 percent during the second quarter of this year, contributing 31.15 percent of overall GDP and export grew 770 percent and contributed 20.35 percent of the total GDP.

In addition, government spending grew 5.28 percent and contributed 8.50 percent, non-profit institution that serves households consumption grew 8.71 percent and contributed 1.21 percent, and import grew 15.17 percent with -20.87 percent contribution.

Suhariyanto added the momentum of Eid Al-Fitr and harvest season had a big role to drive economic growth in the second quarter of this year, which all business fields grew positively. The fastest pace was in the agriculture sector that grew 9.93 percent (yoy) with the biggest contribution from horticulture and plantation.

From the production side, others services sector recorded the highest growth by 9.22 percent (yoy), followed by industry service grew 8.89 percent (yoy), transportation and warehouse grew 8.59 percent (yoy).

Foreign investors recorded net buy to Rp144 billion in the stock market after the Central Statistics Agency announced higher economic growth from Rp39 billion before the announcement, according to CNBC Indonesia.

Top five stakes bought by foreign investors namely PT Bank Rakyat Indonesia Tbk/BBRI (Rp69,8 billion), PT Bank Central Asia Tbk/BBCA (Rp60,1 billion), PT Telekomunikasi Indonesia Tbk/TLKM (Rp38,1 billion), PT Bank Mandiri Tbk/BMRI (Rp28,3 billion), and PT Bukit Asam Tbk/PTBA (Rp27,9 billion).

Furthermore, higher economic growth realization sent rupiah higher against the US dollar. It strengthened 0.14 percent to Rp14.470 per US$1 at 12.00 WIB compared to the last trading last week.

Email: fauzulmuna@theinsiderstories.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here