Bank Indonesia: Business Activities In Quarter IV 2002 Still REMAIN Strong And Will Increase In The First 3 Months Of 2023

Illustration. (Photo: Doc. Antara)

JAKARTA - The 2022 World Business Activity Survey conducted by Bank Indonesia indicates that the performance of business activities remains strong, and is predicted to increase in the first quarter of 2023.

"This is reflected in the value of the Weighted Net Balance (SBT) of 10.27 percent, although lower than the SBT in the third quarter of 2022 by 13.89 percent," said Executive Director of the Communications Department of Bank Indonesia (BI) Erwin Haryono in an official statement, quoted from Antara, Friday, January 13.

The value of SBT was recorded positive in all sectors, except for the declining agriculture, plantation, livestock, forestry, and fishery sectors, especially the food plant sub-sector (tabama), along with the entry of the planting season.

The strong activities of the business world in the fourth quarter of 2022 were supported by the tertiary sector which grew higher, especially the services sector and the transportation and communication sector in line with the increase in demand during Christmas Religious and National Holidays (HBKN) and year-end holidays.

In line with the weakening of business activities, the production capacity used in the fourth quarter of 2022 remained good at 70.94 percent, although relatively decreased compared to the third quarter of 2022 of 73.67 percent. That way, the use of workers is also indicated to have decreased.

Meanwhile, the financial condition of the business world is indicated to improve from all aspects, namely liquidity and profitability aspects, accompanied by easier access to financing.

In the first quarter of 2023, respondents predicted business activities to increase with SBT growing to 13.66 percent.

An increase in business activities is predicted to occur in the primary and secondary sectors, including the agriculture, plantation, livestock, forestry and fishery sectors in line with the harvest season which began in March.

"Meanwhile, the increase in the mining and quarrying sector, as well as the manufacturing sector are in line with the increasing demand supported by storage capacity and the availability of production facilities," he said.