Indonesia’s Economy Grows 5.01 Percent in First Quarter

JAKARTA, KOMPAS.com – The Indonesian economy in the first quarter of 2022 grew 5.01 percent from the same period last year, said Indonesia’s Central Statistic Agency (BPS) on Monday, May 9.

Growth in the January-March period was contributed by the recovery in consumption, investment, and exports. The structure has also returned to pre-pandemic levels.

The gross domestic product (GDP) reached 4,513 trillion rupiahs ($309 billion) based on the current price, while GDP at constant prices was at 2,819 trillion rupiahs ($193 billion).

“When compared to the first quarter of 2021 or y-o-y, the Indonesian economy grew by 5.01 percent,” Central Statistics Agency (BPS) head Margo Yuwono told a virtual press conference Monday, May 9.

Also read: MSMEs in Agriculture, Digital Technologies Contribute Greatly to Indonesia Economy

When viewed in the business sector, the processing industry remains the main driver of the economic growth at 65.74 percent and grew 5.71 percent y-o-y.

Besides, trade industry and agriculture grew 5.71 percent and 1.16 percent y-o-y, respectively.

Meanwhile, in the first quarter of 2022, government administration and education services contracted 1.45 percent and 1.7 percent, respectively.

“Almost all sectors grow, showing that all engines of economic growth begin to start functioning,” he said.

(Writer: Rully R. Ramli | Editor: Aprillia Ika)

Source: https://money.kompas.com/read/2022/05/09/121746326/bps-mesin-pertumbuhan-ekonomi-ri-sudah-balik-ke-level-pra-pandemi-covid-19?page=all#page2.