JAKARTA – Economy of Indonesia throughout 2023 had grown 5.05%, slowing down from the rate seen in 2022 of 5.31%. This decline coincides with global economic deceleration and the downturn of top commodities’ price.

In the press release of Statistics Indonesia (lit. Badan Pusat Statistik/BPS) quoted today (6/2), the top-performing business sectors were transportation and warehousing that grew 13.96%, followed by other services of 10.52%, as well accommodation and food & beverages of 10.01%. Furthermore, manufacturing industry grew 4.64%, followed by agriculture, forestry, fishery, and its wholesale & retail, as well car and motorcycle reparation that climbed 1.30% and 4.85%.

In the meantime, Indonesia’s economy in Q4 2023 grew 5.04% year-on-year (yoy). The transportation and warehousing line recorded the highest growth of 10.33%, other services of 10.15%, as well as electricity and gas supply of 8.68%. The rapid growth in work field was recorded in manufacturing industry of 4.07%, agriculture, forestry, fishery, and its wholesale and retail, as well as car and motorcycle reparation of 1.12% and 4.09% each.

Although economic growth in 2023 slowed down, its performance still arrived above 2021’s record of 3.70% and 2020’s of minus 2.07%. Work field in manufacturing, trading, and transportation industries have contributed to Indonesia’s economic growth. (LK/ZH)