Indonesia's Economic Growth Q2-2024 was 3.79 Percent (Q-to-Q), 5.05 Percent (Y-on-Y), and in Semester 1-2024 was 5.08 Percent (C-to-C)

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Release Date	:	August 5, 2024
File Size	:	3.77 MB

Abstract

Indonesia’s economy based on Gross Domestic Product (GDP) at current prices in the second quarter of 2024 reached IDR5,536.5 trillion and at constant prices (2010) reached IDR3,231.0 trillion.
Indonesia’s economy in the second quarter of 2024 grew by 3.79 percent compared to the previous quarter (q-to-q). On the production side, Agriculture, Forestry and Fishing experienced the highest growth at 23.43 percent. Meanwhile on the expenditure side, General Government Final Consumption Expenditure (GGFCE) component experienced the highest growth at 19.58 percent.
Indonesia’s economy grew by 5.05 percent in the second quarter of 2024, compared to the second quarter in 2023 (y-on-y). On the production side, Accommodation and Food Service Activities experienced the highest growth at 10.17 percent. Meanwhile on the expenditure side, Non-Profit Institutions Serving Households Final Consumption Expenditure (NPISHs FCE) component experienced the highest growth at 9.98 percent.
Indonesia’s economy grew by 5.08 percent in the first semester of 2024, compared to the first semester in 2023 (c-to-c). On the production side, Public Administration and Defence; Compulsory Social Security experienced the highest growth at 10.25 percent. Meanwhile on the expenditure side, NPISHs FCE experienced the highest growth at 16.84 percent.
Spatially, the Indonesian economy in the second quarter of 2024 showed grew in all regions. The group of provinces on the island of Jawa is the largest contributor with a role of 57.04 percent of the national economy and recorded a growth performance of 4.92 percent (y-on-y) compared to quarter II-2023.

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