BPS Calls The Indonesian Economy Driven By The Economy Of The Eastern Region

Rupiah (Photo: Antara)

JAKARTA - The Central Statistics Agency (BPS) stated that national economic growth in the first quarter of 2024 was mainly driven by economic growth in eastern Indonesia.

Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti explained, from a regional perspective, the highest economic growth was achieved by Papua Province with an annual growth of 17.49 percent (year-on-year/yoy), followed by North Maluku (11.88 percent), and Central Sulawesi (10.49 percent).

"If we look deeper, there are three provinces that have grown double digits, namely Papua, North Maluku, Central Sulawesi," Amalia said, quoting Antara.

He conveyed that there were a total of nine provinces whose economy grew above national growth which was recorded at 5.11 percent (yoy) in the first quarter of 2024.

Nevertheless, BPS noted that the Java region is still the largest contributor to gross domestic product (GDP), which is 57.70 percent. This source of growth is dominated in the manufacturing, construction and trade industries.

Previously, BPS said that Indonesia's economic growth in the first quarter of 2024, which was recorded at 5.11 percent year-on-year (yoy), was the highest since 2015.

"When compared to economic growth in the first quarter of previous years, economic growth in the first quarter of 2024 was the highest since 2015. Previously in Q1 2014 it had grown 5.12 percent," said Amalia.

Amalia announced that Indonesia's economy in the first quarter of this year showed a fairly solid growth of 5.11 percent, but contracted by 0.83 percent compared to the previous quarter (quarter to quarter/q-to-q).

In terms of gross domestic product (GDP) on the basis of applicable prices, it was recorded at IDR 5,288.3 trillion, while GDP on the basis of constant prices reached IDR 3,112.9 trillion.

Sebagai sektoral, lanjutnya, penyumbang utama ekonomi triwulan I 2024 dari sisi produksi berasal dari industri pengolahan, perdagangan, pertanian, konstruksi, serta pertambangan dan penggembangan.

The five sectors contributed positive economic growth with a total contribution of 63.61 percent to GDP.

The processing industry was recorded as the largest source of growth of 0.86 percent, followed by construction (0.73 percent), mining and quarrying (0.68 percent), and trade (0.6 percent).