Indonesia’s economy grew by 6.02 percent in the first quarter, the slowest expansion in more than two years as exports fell due to the weak global economy.
It was the slowest quarterly, year-on-year growth in Southeast Asia’s biggest economy since the third quarter of 2010 and came in below forecasts. The economy grew 6.11 percent in the fourth quarter of last year.
Exports fell by 4.33 percent compared to the previous quarter, according to official government data. Economists attributed the slowing growth to a fall in demand for commodities.
Despite the slight slowdown, Indonesia still has one of the best growth rates in the world, driven by strong domestic consumption and high levels of foreign investment.