Indonesia's Q2 GDP of 6.28% beats estimates

Aug 15, 2007 - Indonesia's economic growth accelerated in the second quarter against a background of falling interest rates, government data showed on Wednesday, reinforcing expectations full-year growth would be the highest in 11 years.

Southeast Asia's biggest economy grew 6.28 percent in April-June 2007 from a year earlier, the strongest rate since 6.5 percent annual growth in the fourth quarter of 2004 and accelerating from the first quarter's 5.97 percent growth.

'The rise in exports was led by non-oil-and-gas products because of increased prices due to strong international demand and the improved economic performance of our major trading partners,' he said.

In the first quarter, GDP rose 2.0 percent from the fourth quarter of last year, and was 6.0 percent higher than a year before.

In the first six months to June, GDP grew 6.1 percent on annualised basis.

Sutomo said private consumption, made up 57.4 percent of second quarter GDP, which amounted to 486.5 trillion rupiah. Private consumption rose 1.5 percent from the first quarter and was up 4.7 percent year-on-year.

He said gross capital formation that accounted for 22 percent of GDP rose 4.3 percent quarter-on-quarter and was up 6.9 percent year-on-year.

He said government consumption, which makes up 7.9 percent of GDP, were 24.2 percent higher than in the first quarter, and was up 3.8 percent from a year before.

Net exports made up 10 percent of GDP in the second quarter.