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Jakarta Post

RI's Q3 economic growth hits lowest point since 2009: BPS

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Wed, November 5, 2014   /  04:06 pm

Central Statistics Agency (BPS) data revealed on Wednesday that the Indonesian economy grew by only 5.01 percent in the third quarter of the year, the lowest growth recorded since 2009.

BPS head Suryamin said the condition was triggered by the global economic slowdown and the fact that China, Indonesia'€™s main trade partner, recorded slower economic growth, impacting the country'€™s export volumes to China.

'€œThe Chinese economy only grew by 7.3 percent while the Japanese economy weakened by 0.25 percent. They are our main trading partners and their conditions impact us,'€ Suryamin told the press on Wednesday as quoted by kontan.co.id.

In addition, he said that the decreasing price of some commodities such as cocoa and crude palm oil since earlier this year had hurt Indonesia'€™s exports.

He added that the number of unemployed citizens in the country stood at 7.24 million people throughout August 2014, decreasing by 170,000 people compared to the same period last year.

He said, however, that the figure rose by 90,000 people compared to data released in February this year.

He also said that the number of people in the workforce across the country reached 121.87 million in August this year, up from 120.17 million people recorded in the same month in 2013. (nfo)(+++)

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