Indonesia’s economy grows 5.01 pct in Q1, 2022

9 May 2022

Jakarta (Indonesia Widow) – The Indonesian economy grew by 5.01 percent in the first quarter of 2022 year-on-year (yoy), compared to the same period last year, due to the recovery in community economic activities, according to the Statistics Indonesia (BPS).

In terms of production, the transportation and warehousing businesses experienced the highest growth of 15.79 percent, while from the expenditure side, the export component of goods and services underwent the highest growth of 16.22 percent, BPS Head Margo Yuwopno said at a press conference here on Monday.

However, BPS noted that the Indonesian economic growth in the first quarter of 2022 compared to the previous quarter contracted by 0.96 percent (quarter-to-quarter/qtq).

In terms of production, the deepest growth contraction occurred in the business of health services and social activities by 16.5 percent, while from the expenditure side, the government’s consumption expenditure component experienced the deepest growth contraction of 50.54 percent.

According to the BPS head, Indonesia’s economy based on the Gross Domestic Product (GDP) according to the current prices in the first quarter of 2022 reached 4,513.0 trillion rupiahs (309.7 billion U.S. dollars).