Indonesian economy grows 6.1 percent in 2010

JAKARTA, INDONESIA: Indonesia's Central Statistics Agency (BPS) on Monday announced that in 2010, the country's economy grew by 6.1 percent on a year-to-year basis.

According to the report, Indonesia's Gross Domestic Product (GDP) at constant prices reached Rp 2.310 trillion ($258.72 billion), up from 2009 and 2008, which posted Rp 2.177 ($243.8 billion) and Rp 2.082 trillion ($233.18 billion), respectively.

With the fourth quarter completed, the country's GDP was Rp 6.422 trillion ($719 billion) as of the end of 2010, compared to 2009's Rp 5.603 ($627.5 billion).

The highest impact was in domestic consumption, which amounted to 56.7 percent of Indonesia's economy. Meanwhile, investment numbers reached 32.2 percent and exports totaled at 24.6 percent.

Furthermore, BPS also indicated that the GDP per capita in 2010 reached Rp 27 million ($3,005), representing a significant increase compared to 2009, which stood at Rp 23.9 million ($2,349). However, 57.8 percent of the fourth quarter was contributed by Indonesia's busiest and most populated island, Java, which boasts the country's capital of Jakarta.

The report also revealed that the highest growth rate was experienced in the country's transportation and communications sector with an increase of 13.5 percent, while the lowest, the agricultural sector, grew 2.9 percent.

Even though Indonesia's 2010 fourth quarter dropped 1.4 percent compared to the previous quarter, on a year-to-year basis, the economy grew 6.9 percent in comparison to 2009's fourth quarter.

(BNO NEWS )