Posted on 18 Nov 2008
The Indonesian economy expanded by 6.1 percent in the third quarter of 2008, driven by high exports, investment and consumption albeit at a slow pace.
Compared to the previous quarter, the economy grew by 3.5 percent in the third quarter of 2008, Chief of the Central Bureau of Statistics (BPS) Rusman Heriawan said on Monday.
Cumulatively, the economy grew by 6.3 percent in the first nine months of 2008, he said.
"With the cumulative economic growth rate reaching 6.3 percent and the economic growth rate in the fourth quarter estimated at less than 6 percent, the full-year economic growth rate in 2008 will remain above 6.0 percent or at least the same (as last year)," he said.
Meanwhile, non-oil/gas-driven economic growth was recorded at 6.6 percent, he said.
The slowdown could be observed from the quarter-to-quarter economic growth of 3.5 percent in the third quarter of 2008 compared to 3.9 percent a year earlier, and the year-on-year economic growth of 6.1 percent in the third quarter of 2008 compared to 6.5 percent a year earlier, he said.
"The gross domestic product (GDP) based on the basic prices in the third quarter of 2008 reached Rp1,343.8 trillion, bringing to Rp3,705.3 trillion the cumulative GDP in the first nine months of 2008," he said.
Among the factors of the GDP growth, the government consumption sector took the lead, growing 16.9 percent. This was followed by the goods and service export sector (14.3 percent), the investment sector (12 percent), the import sector (11.9 percent and the household consumption sector (5.3) percent.
"The government spending recorded a fairly high growth of 16.9 percent as the third and fourth quarters are the peak of government spending. The government spending also rose significantly to offset a decline in advanced countries` demand for export goods," he said.
The government has set the economic growth rate targets for 2008 and 2009 at 6 percent
