TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIndonesia annual Q1 GDP growth slowest in more than three years
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Construction cranes operate near skyscrapers at a business district in Jakarta on Nov. 13, 2024. (AFP/Bay Ismoyo)
T
he national economy grew 4.87 percent in the first quarter from a year earlier, its weakest growth rate in more than three years, official data showed on Monday, compared with a 4.91 percent growth rate expected by analysts in a Reuters poll.
The January-March growth was the slowest since the third quarter of 2021 and down from 5.02 percent in the previous quarter.
On a non-seasonally adjusted, quarter-on-quarter basis, gross domestic product contracted 0.98 percent, Statistics Indonesia data showed.
Resource-rich Indonesia's economic growth has hovered around 5 percent since the pandemic.
President Prabowo Subianto, who took office last year, has pledged to lift that to 8 percent during his five-year term but is facing challenges from slowing global growth amid a trade war, as well as weakening domestic demand and a tighter budget position.
US-bound exports from Southeast Asia's biggest economy could be hit by hefty tariffs in coming months, with Jakarta discussing trade with Washington.
In the first three months of 2025, household spending, which makes up over half of the country's GDP, grew 4.89 percent annually, the slowest pace in five quarters, despite higher spending during the fasting month of Ramadan and Eid al-Fitr festivities.
Ramadan fell in March this year.
Investment growth at 2.12 percent was the lowest in two years, while government spending contracted.
There was an increase in the net export contribution to GDP due to weakening imports.
The mining sector shrank about 1 percent annually, affected by a drop in coal prices and weaker demand from international buyers, while maintenance lowered output at the Grasberg copper and gold mine operated by Freeport McMoRan.
The agriculture sector provided one bright spot in the data, with 10.5 percent growth, boosted by stronger rice and corn harvests compared with the previous year.
