JAKARTA, Feb 5 (Reuters) - Indonesia's economy expanded 6.2
percent in 2012, slightly less than expected, backed by strong
domestic consumption and robust investment, the statistics
bureau said on Tuesday.
The rate was slower than 2011's 6.5 percent. Trimming the
pace was weak global demand, which caused exports to fall 6.6
percent from the previous year and produced the first-ever
annual trade deficit for Southeast Asia's largest economy.
A Reuters poll of 12 economists had forecast the rise in
full year gross domestic product (GDP) at 6.3 percent and growth
in the fourth quarter of 6.2 percent year-on-year. The
statistics bureau said the pace in the last quarter was 6.1
percent, down from the previous three months rate of 6.2
In the last three months of 2012, the economy contracted
1.45 percent quarter-on-quarter. In the poll, eight economists
saw a 1.3 percent contraction on a seasonally-unadjusted basis.
The Indonesian government has said that for 2013, it expects
the economy to expand between 6.6 percent and 6.8 percent.
While exports were weak in 2012, the year featured strong
purchasing power and robust economic activity, bolstered by low
interest rates, Indonesia's rich natural resources and its young
For last year, Indonesia reported record foreign direct
investment of 221 trillion rupiah ($22.7 billion) - a 26 percent
rise from the previous year - mainly driven by the mining,
transportation and chemical sectors. Auto sales surged to more
than 1 million vehicles despite a higher downpayment requirement
Benign annual inflation in January of 4.57 percent and signs
of a recovery in global demand give the central bank room to
maintain its benchmark rate at 5.75 percent at a Feb. 12
y/y q/q (nsa)
Q4 2012 6.1 -1.45
Q3 2012 6.2 3.2
Q2 2012 6.4 2.8
Q1 2012 6.3 1.4
Q4 2011 6.5 -1.3
Q3 2011 6.5 3.5
Q2 2011 6.5 2.9
Q1 2011 6.4 1.6
Q4 2010 6.9 -1.4
Q3 2010 5.8 3.5
Q2 2010 6.2 2.8
Q1 2010 5.7 1.9
Q4 2009 5.4 -2.4
Q3 2009 4.2 3.8
Q2 2009 4.1 2.4
Q1 2009 4.5 1.7
* Some previous figures may change because of official
* Quarter-to-quarter figures are not seasonally adjusted
- Inflation in 2012 was a comfortable 4.32 percent as
government scrapped a plan to hike petrol price. January
inflation was 4.57 percent from a year ago, as adverse weather
condition caused distribution disruptions and pushing prices of
- Indonesia posted its first annual trade deficit in 2012,
at $1.63 billion, with reported a deficit for December of $150
- The HSBC Markit purchasing managers' index for January
showed a contraction for manufacturing activity contracted for
the first time since May. The index was 49.7, compared with 50.7
in December and a record-high 51.5 in November.
- Bank Indonesia has maintained its benchmark rate at a
record low of 5.75 percent for 11 straight months to boost the
economy amid uncertain global conditions.
- Indonesia shoulders a heavy burden due to its fuel
subsidies, on which the government spent 211 trillion rupiah in
- Increased spending on imported fuel in 2012 added to the
currency account deficit, which the Bank Indonesia has estimated
was equivalent to 2.4 percent of GDP.
(Reporting by Rieka Rahadiana and Adriana Nina Kusuma; Editing
by Richard Borsuk and Neil Chatterjee)
Keywords: INDONESIA ECONOMY/GDP
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