Bank Indonesia: Business Activities Increase During Quarter I-2023

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) revealed that based on the results of the Business Activity Survey (SKDU), it indicated that the performance of business activities increased in the first quarter of 2023.

Head of the BI Communication Department Erwin Haryono said this was reflected in the value of the Weighted Net Balance (SBT) of 11.05 percent or slightly higher than the SBT in the fourth quarter of 2022 of 10.71 percent.

"The increase in the performance of business activities is indicated in agricultural, forestry and fishery business fields in line with the historical patterns of harvest season and LU processing industry in line with the increase in industrial activity, availability of production facilities, and supporting storage capacity," he said in a press statement, Friday, April 14.

According to Erwin, the performance of LU mining and quarrying as well as large and retail trade and LU, and repair of cars and motorbikes also increased in line with increasing domestic demand and community mobility.

Meanwhile, the production capacity used in the first quarter of 2023 was recorded at 72.33 percent, an increase from 71.49 percent in the previous quarter.

The use of labor is also indicated to increase and be in the expansion phase. Meanwhile, the financial condition of the business world remains good even though it is not as high as the previous quarter," he said.

Erwin explained, in the second quarter of 2023 respondents predicted business activities to increase with SBT of 21.44 percent.

The increase in business activities is expected to occur in several main LUs, namely agricultural LUs as the main harvest continues and the Mining LU is supported by the availability of production facilities.

In addition, LU's performance in the processing industry is also increasing in line with the increase in demand being supported by the availability of production facilities and storage capacity, while the performance of large and retail trade LU, transportation and warehousing LU, and LU providing accommodation and food and drink increases

"This is in line with domestic demand which increased during the period of Eid Al-Fitr National Religious Holidays (HBKN)," he concluded.