REPUBLIKA.CO.ID, JAKARTA - Indonesia's economic fundamental continues to improve despite global economic pressure from some stratetic partners like China and Japan. The economic slowdown has hit a number of emerging market countries, such as China, Brazil, India, Turkey and South Africa since the middle of 2013 until the first quarter of 2014.
"Indonesia's economic growth in the first quarter of 2014 was the accumulation of internal and external pressures," Presidential Special Staff for Economy and Development, Firmanzah, said on Monday.
The slash on global commodity prices due to bad weather and decreasing demands become the external pressure. Some countries like China, US, Japan, and Europe cut their demands.
From the internal side, the threat of trade balance deficit encouraged government to control import and export ban on raw materials. Statistic Indonesia (BPS) announced Indonesia's GDP growth of 5.21 percent year on year (yoy).
All sectors show growth except mining sector which declined 0.38 percent. Transportation and telecommunication are sectors with the highest growth of 10.23 percent.