Sun, 14 Aug 2022

Indonesia's GDP grows 5.44 pct year on year in Q2

Xinhua
05 Aug 2022, 17:30 GMT+10

JAKARTA, Aug. 5 (Xinhua) -- Indonesia's economy grew 5.44 percent year-on-year in the second quarter of this year as exports surged and commodity prices rose in global markets, Statistics Indonesia (BPS) said on Friday.

Head of BPS Margo Yuwono said that in the April to June period, Indonesia's gross domestic product grew 3.72 percent quarter to quarter with the largest contribution coming from the provinces in Java, 56.55 percent of the national total.

"Development in the second quarter of this year shows that Indonesia's economic growth is steadily increasing," Yuwono said at a press conference.

Indonesia faced a recession amid restrictions due to the COVID-19 transmission, marked by the country's economy contracting four times in a row, from the second quarter of 2020 to the first quarter of 2021.

The country's economy regrew positively since the second quarter of 2021, which bounded 7.07 percent year on year.

This growth rate in the second quarter is in line with the government's projection of above 5 percent year on year and the central bank's 5.05 percent.

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