REPUBLIKA.CO.ID, DENPASAR -- The Balinese economy grew 6.20 percent in the first quarter of 2015, surpassing the national economic growth of 4.71 percent during the same period.

"However, the economic growth slowed down as compared to the same quarter last year when it reached 6.55 percent," Head of the Central Statistics Agency (BPS) Office in Bali Province Panusunan Siregar stated here on Tuesday (5/5).

On the production side, the financial service sector registered the highest growth, contributing 10.93 percent to the economic growth while household consumption grew 8.42 percent.

As such, the Balinese economy during the January-March quarter of 2015 contracted 1.53 percent as compared to the previous quarter. On the production side, the contraction was 13.66 percent contributed by the extraction business.

The first-quarter economic growth was also fueled by government spending, which grew 13.40 percent; the agricultural sector, which expanded 4.04 percent; and the information and communication sector, which grew 3.80 percent.

Siregar remarked that other services grew 2.01 percent while healthcare and social activities grew 0.83 percent.

The other business fields that contributed more than 6 percent to the local economy included the transportation and warehousing sector, which grew 9.16 percent;

construction service, which expanded 9.01 percent; wholesale and retail businesses as well as car and motorcycle repair, which grew 8.30 percent, and the manufacturing industry, which rose 6.54 percent.

On the spending side, household consumption contributed 48.73 percent, followed by the export of goods and services 36.29 percent, and the formation of gross fixed capital of 31.25 percent.

BPS Chairman Suryamin earlier noted in the day that the Indonesian economy grew at a slower pace of 4.71 percent in the first quarter of 2015 as compared to 5.14 percent in the corresponding period last year.

"The economic growth of China as the export destination of Indonesian exports coupled with the low global oil prices and declining export and import performances have affected the economic performance in the first quarter," Suryamin added.

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