Indonesia Q2 economic growth accelerates to 5.44%

Pearl Bantillo

05-Aug-2022

SINGAPORE (ICIS)–Indonesia’s economic growth in the second quarter accelerated to 5.44% year on year from 5.01% in the previous three months, thanks to double-digit expansions in transportation & storage and exports.

Transportation & storage grew 21.27%, while export of goods and services was up 19.74% over the same period, data from Statistics Indonesia show on Friday.

Manufacturing expanded by 4.01% in April-June 2022

On a quarter-on-quarter basis, southeast Asia’s biggest economy posted a 3.72% growth, backed by a 13.15% expansion in agriculture, forestry and fishing sector, and a 32% surge in government spending.

Indonesia is the world’s largest palm oil producer and a major exporter of oleochemical derivatives, including fatty acids, fatty alcohols, glycerine and soap noodles.

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