Local newswires are citing a recent article published by Reuters that Indonesia’s economy grew by 5.44-percent in Q2 2022 when compared to the same period last year (Year-on-Year), according to Statistics Indonesia.
Economic performance during the period was even better than that recorded before the pandemic and indicated that economic recovery since the Q2 2021 continues and is getting stronger.
“Economic growth this year has steadily increased. It started from the Q2 2021, Q3 2021, Q4 2021, Q1 2022, and Q2 2022, (the economy) continues to grow,” BPS Head Margo Yuwono noted here on Friday.
The 5.44-percent growth was helped by the increase in gross domestic product at Current Prices and GDP at Constant Prices. In Q2 2022, the GDP at ADHB was recorded at USD 328-million (approx. IDR 4,919.9-trillion at current exchange rates) an increase from the Q2 2021 of USD 274-million (IDR 4,176.4-trillion)
Yuwono said, as compared to the previous quarter the domestic economy has grown by 3.72-percent.
“This growth is in line with the pattern of quarterly growth. Hence, the second quarter is always positive and higher than the first quarter, partly due to seasonal factors,” he stated.
Cumulatively, he remarked that Indonesia’s economy in the first half of 2022 was recorded to grow 5.23-percent as compared to the first half of last year.
Sources: Reuters, Kontan, Business Today