"National and international activities, such as entertainment, sports, and government events, contributed to the gross domestic product (GDP) through several business fields," the Deputy for Balance Sheets and Statistical Analysis at BPS, Edy Mahmud, informed in the “Release of Economic Growth for the First Quarter of 2023” in Jakarta on Friday.
These business sectors were transportation (event organizers and travel agents), accommodation and food and drink, and other services (entertainment and music), he said.
The transportation and warehousing sector grew 15.93 percent year on year (yoy) in the first quarter of 2023, contributing 5.56 percent to the GDP and 0.64 percent to overall economic growth.
Then, the accommodation and food and drink sector grew 11.55 percent yoy, recording a GDP contribution of 2.46 percent. The other services sector managed to grow 8.9 percent yoy and contribute 1.91 percent to the GDP, Mahmud added.
He said that the three sectors also clocked the highest growth in the first quarter of this year, which helped the national economy grow stably amid a global economic slowdown and a slide in the prices of main export products.
"Since the fourth quarter of 2021, the Indonesian economy has grown steadily at a level of 5 percent and above on an annual basis," he noted.
In the fourth quarter of 2021, the economy grew 5.03 percent yoy, while in 2022, it recorded a growth of 5.02 percent yoy in the first quarter, 5.46 percent in the second quarter, 5.73 percent in the third quarter, and 5.01 percent in the fourth quarter, he said.
In 2023, it registered a growth of 5.03 percent in the first quarter, he added.
However, if seen on a quarterly basis (quarter-to-quarter/qtq), Indonesia's economy in the first quarter of 2023 contracted by 0.92 percent, in keeping with the seasonal pattern seen in previous years, he said.
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Translator: Agatha Olivia V, Resinta S
Editor: Sri Haryati
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