The Indonesian economy grew 5.78% in 2013 and was marked by an improvement in the economic performance across various sectors, revealed the National Statistics Agency (BPS). "Growth was recorded in all economic sectors with the communication and transportation sector in the lead, recording a 10.19 % growth," BPS Chi
The Indonesian economy grew 5.78% in 2013 and was marked by an improvement in the economic performance across various sectors, revealed the National Statistics Agency (BPS).
"Growth was recorded in all economic sectors with the communication and transportation sector in the lead, recording a 10.19 % growth," BPS Chief Suryamin stated here on Wednesday.
He noted that during the year 2013, the financial, real estate, and financial service sectors recorded a growth of 7.56 %.
The construction sector grew 6.57 %, while the trade, hotel, and restaurant sector showed a 5.93 % growth, he pointed out.
The GDP growth in the fourth quarter of 2013 was down 1.42 % from the third quarter, but in comparison to that of the same period in 2012, it grew 5.72 %.
The GDP growth, excluding oil and gas, was recorded at 6.25 %, which was higher than the national GDP growth.
Suryamin explained that based on expenditures, Indonesia's economic growth in 2013 was driven by exports that grew 5.3 %, household consumption increased 5.28 %, government spending climbed 4.87 %, gross fixed capital formation rose 4.71 %, and imports increased 1.21 %.
"Exports are improving due to effective government policies and depreciation of the rupiah exchange rate. In the meantime, the gross fixed capital formation was down because of a drop in capital goods imports such as machinery required for production. This has affected investment," he pointed out.
Suryamin emphasized that the GDP structure in 2013 is still dominated by household spending that grew 55.82 %, gross fixed capital formation rose 31.66 %, exports increased 23.74 %, imports rose 25.74 %, and government spending increased 9.12 %.