JAKARTA - The Central Statistics Agency (BPS) reported that the Indonesian economy in the first quarter of 2024 reached 5.11 percent on an annual basis or year on year (yoy). This growth was driven by the growth of the processing industry in the first quarter of 2024.
Based on BPS records according to its business field, the manufacturing sector grew 0.86 percent in the first quarter of 2024.
This was conveyed by the Acting Head of BPS Amalia A Adininggar Widyasanti in a BPS data release, Monday, May 6.
"When viewed from the source of growth in the first quarter of 2024, the processing industry became the largest source of growth, which was 0.86 percent," said Amalia.
Amalia said the growth of the processing industry was stable due to strong domestic and foreign demand as well as the food and beverage industry which grew 5.87 percent supported by increased domestic demand during the 2024 Ramadan and Eid.
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"The source of growth from this processing industry is greater than the fourth quarter of 2023, but smaller than the first quarter of 2023," he said.
In addition, economic growth is also supported by other business fields, such as construction with a source of 0.73 percent growth, 0.68 percent mining and 0.60 percent trading.
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