Indonesian Economy in Q2-2024 Grows 5.05 Percent

Deputy for Balance and Statistical Analysis Moh. Edy Mahmud (Photo: Aris Nurjani/VOI)

JAKARTA - The Central Statistics Agency (BPS) reported that economic growth in the second quarter of 2024 was 5.05 percent year on year (yoy), or down when compared to growth in the first quarter of 2024 of 5.11 percent (yoy).

Deputy for Balance Sheet and Statistical Analysis Moh. Edy Mahmud said that the Indonesian economy based on gross domestic product (GDP) at current prices was IDR 5,536.5 trillion and at cash prices was IDR 3,231.0 trillion.

So that Indonesia's economic growth in the second quarter of 2024 when compared to the second quarter of 2023 or year on year grew by 5.05 percent.

"Indonesia's economic growth in the second quarter of 2024 when compared to the second quarter of 2023 or (YoY) grew by 5.05 percent. When compared to the first quarter of 2024 or quarter to quarter (qtq) it grew by 3.79 percent," he explained in a press conference, Monday, August 5.

Edy said that almost all business sectors grew positively, namely the food and beverage industry, basic metal industry, chemical industry, pharmaceuticals, and traditional medicine. Then, the construction sector grew along with the development of government infrastructure projects.

"Supported by domestic economic activity that remains strong, the Indonesian economy grew steadily by 5.08 percent in the first semester of 2024 (ctc)," he said.