Indonesia's economy expands 5.02 percent in 2019 (Photo: Reuters) Jakarta (VNA) – Indonesia posted an economicgrowth rate of 5.02 percent in 2019, the lowest since 2015, StatisticsIndonesia (BPS) announced on February 5.
The pace slowed down from 5.17 percent in 2018and is also lower than the 5.3 percent targeted for 2019, which is attributedto weakening investments and exports.
BPS head Suhariyanto told reporters during apress briefing that the Indonesian economy grew 4.97 percent year on year inthe fourth quarter of 2019, the slowest since Q4 of 2016.
However, he noted it was not easy to stay at the5-percent level, and the growth is still good enough amid the global economicslowdown.
Despite impact of the US-China trade dispute,the country’s growth was buoyed by relatively strong household spendingthroughout 2019.
Household spending, which accounts for more thanhalf of Indonesia’s GDP, grew by 5.04 percent last year, compared to the 5.05percent in the previous year because of falling vehicle sales.
Investment – the second largest contributor toGDP growth – increased 4.45 percent last year, a sharp decline from the6.67-percent increase recorded in 2018.
Government spending rose 3.25 percent from 4.8percent in 2018, while exports and imports contracted 0.87 percent and 7.69percent, respectively, last year./.
VNA
