The Central Statistics Agency (BPS) has recorded a 5.17% (year on year/yoy) economic growth for Indonesia in the second quarter of 2023, primarily driven by the performance of the manufacturing industry. The manufacturing economy as a whole grew by 4.88 percent (yoy) and is mainly supported by strong domestic and global demand. In more detail, the food and beverage industry grew by 4.62%. According to Edy, this growth was driven by increased production of crude palm oil (CPO) and crude palm kernel oil (CPKO), as well as higher consumption of food and beverages during Eid al-Fitr and Eid al-Adha. Furthermore, the basic metals industry grew by 11.49%. This achievement was fueled by increased export demand for steel and ferro-nickel commodities. Additionally, the transportation equipment industry grew by 9.66%, driven by increased domestic and international demand, particularly for environmentally friendly electrified vehicles.
Apart from the performance of the manufacturing industry, Indonesia's economic growth in the second quarter of 2023 was also supported by the trade sector. In the trade sector, trade growth is primarily driven by increased production activities. Wholesale and retail trade, grew by 4.97% and this accomplishment was propelled by increased production activities, consumption, and public mobility. Motor vehicles, motorcycles, and their repairs grew by 6.56%. This growth was driven by increased sales of automobiles and motorcycles. Transportation and warehousing sector grew steadily in line with increased public mobility. Air transport grew by 32.88 percent, driven by an increase in the number of air passengers due to the rise in domestic and foreign tourist visits. Sea transport grew by 18.26%, driven by an increase in the number of passengers and goods transported. Mail transport grew by 19.4%, propelled by an increase in the number of passengers and goods transported in line with increased mobility.
Tuesday, 08 August 2023 10:23










