BPS: Only Agricultural Business Fields Contract In The First Quarter Of 2024

BPS (Photo: Antara)

JAKARTA - The Central Statistics Agency (BPS) reported that most business fields recorded positive growth in the first quarter of 2024.

Plt. Head of the Central Statistics Agency Amalia Adininggar Widyasanti said the distribution and growth of gross domestic product (GDP) on an annual basis (yoy) of all business fields grew positively, except for agricultural business fields.

The main business fields that contributed greatly to GDP, namely the processing industry grew by 4.13 percent year on year (yoy), trade 4.58 percent (yoy), agriculture contracting 3.54 percent (yoy), construction 7.59 percent (yoy) and mining 9.31 percent (yoy).

"The total of the five business fields covers 63.61 percent of the total GDP," Amalia said in the BPS release, Monday, May 6.

In detail, the highest growing business field is government administration which grew by 18.88 percent (yoy).

"This is growing high driven by increased personnel expenditure (THR and salary increases)," he said.

Next, the second highest is the growing health service business field of 11.64 percent (yoy). This is supported by an increase in spending on government health institution employees.

Then, the company's service business fields grew by 9.63 percent (yoy), driven by an increase in the revenue of event organizers (event organizers) and various other company service activities in line with the 2024 election event.

Meanwhile, agricultural business fields experienced a contraction of 3.54 percent (yoy), due to a decline in agricultural commodity production in early 2024, especially food crops due to the El Nino phenomenon which affected the second half of 2023.

Meanwhile, BPS noted that Indonesia's economy in the first quarter of 2024 grew by 5.11 percent (yoy). This economic growth increased from the fourth quarter of 2023 which was 5.04 percent (yoy).