FILE PHOTO: Workers unload oil palm fruits in a state-owned crude palm oil processing unit in North Sumatra May 29, 2012. (Reuters)JAKARTA: Indonesia's economy grew slower than expected in the first quarter, official data showed Monday, as exports contracted for the first time since 2016 owing to softer demand for key commodities. Southeast Asia's biggest economy expanded 5.07% in January-March, nearly flat from a year earlier and missing market estimates of 5.18%. The commodities-driven economy has been faced with widening trade deficits and rocky global demand for export drivers like palm oil and coal. "We expect global growth to soften a bit further over the coming quarters and for the prices of Indonesia's main commodities exports, coal and palm oil, to remain subdued," it added.

Source: Bangkok Post May 06, 2019 06:11 UTC