Bank Indonesia: 2023 E-Commerce Transaction Hits Rp454 Trillion

TEMPO.CO, Jakarta - Bank Indonesia stated that the digital economy and finance are poised to be a game changer in the country's economic landscape, as its use and impact on the economy continue to grow tremendously.

“The digital economy and finance is the game changer if we look at its development in recent years, which has increased rapidly,” BI Senior Deputy Governor, Destry Damayanti, said at the virtual seminar held by the Indonesian Banking Development Institute (LPPI) on Friday, February 23, 2024.

Destry pointed out that the digital economy and finance are supported by Indonesia's demographic structure, which is predominantly filled by young people. Indonesia will reach the peak of its demographic bonus in 2030.

“They are technologically savvy, they are used to doing transactions through digital economy and finance,” she said.

Furthermore, the prevalence of digital-based logistics, e-commerce, and transportation has further bolstered the digital economy

“So this will be a game changer for Indonesia's future economic growth,” Destry concluded.

Bank Indonesia recorded that throughout 2023, digital transactions in e-commerce amounted to Rp454 trillion, in digital banking at Rp58,478 trillion, and in electronic money at Rp836 trillion. The value was estimated to grow by 7.2 percent, 9.1 percent, and 25.8 percent, respectively, in 2024.

AMELIA RAHIMA SARI

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