indonesia posted steady economic growth in the first quarter helped by a steep jump in trade activity and rising household consumption in the worlds fourthmost populous nation southeast asias largest economy expanded 501 compared with the same period a year earlier indonesias official statistics agency said monday that compares with the 502 growth in the fourth quarter of 2021 and was in line with a median estimate for a 50 expansion according to a wall street journal poll of analysts household consumption which powers more than half of indonesias economy rose 434 on year in the first quarter the statistics agency said exports from the resourcerich nation rose more than 16 on year helped by higher prices for key commodities including coal compared with the previous quarter gross domestic product contracted 096 compared with growth of 106 in the fourth quarter partly due to renewed mobility restrictions to contain the spread of the covid19s omicron variant in java bali and elsewhere the statistics agency also said that inflation was 347 on year in april up from 264 in march and closer to the high end of bank indonesias 24 fullyear inflation target bank indonesia last month trimmed its fullyear economic growth outlook to a range of 4553 from 4755 previously amid rising food and energy prices and concerns of slowing global trade due to the russiaukraine conflict southeast asias largest economy grew 369 in 2021 after the pandemic caused the economy to contract 207 in 2020