High Community Mobility Boosts Jakarta's Economy in Q2 2022

9 August 2022 09:21 WIB

TEMPO.CO, JakartaThe growth of Jakarta's economy in the second quarter of 2022 is attributable to the high community mobility, said Head of Bank Indonesia’s Jakarta Representative Office Onny Widjanarko.

“Economic growth in Jakarta is in line with the continued increase in community mobility supported by the accelerated booster vaccination program,” said Onny as quoted from Antara in Jakarta, Monday, August 8, 2022.

The policy allowing people to conduct homecoming trips during the national religious holidays, he opined, also encouraged growth, especially household consumption.

From the demand side, export performance, household consumption, and investment were the main drivers of the capital’s economy in this year’s second quarter. From the business sector side, the source of growth came from the trade, the information and communication business, and the processing industry.

Export performance in the second quarter of 2022 grew by 10.68 percent (year-on-year/yoy) with a 5.60 percent share of the regional gross domestic product. “This increase is mainly driven by increased exports of services, which is reflected in the surge in foreign tourist visits,” Onny added.

Household consumption in the same period also grew by 5.27 percent yoy with a share of 3.12 percent of Jakarta's GDP, which was indicated by an increase in imports of consumer goods and electricity consumption.

Additionally, investment recorded a growth of 5.78 percent (yoy) with a share of 2.11 percent (yoy) in line with the acceleration of the construction sector as well as a surge in government capital spending and imports of capital goods.

However, Onny said government consumption contracted by 9.58 percent (yoy). “This slows down the growth [of Jakarta’s economy],” he said.

ANTARA 

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