The Highest During the Jokowi Period, Indonesia's Economy in 2022 Grows 5.31%

JAKARTA. Indonesia's economic growth had returned to the level before the Covid-19 Pandemic occurred while recording the highest economic growth record during the reign of Joko Widodo (Jokowi).

This was confirmed after Statistics Indonesia (BPS) announced Indonesia's economic growth rate as measured by the value of the Gross Domestic Product (GDP) in 2022 of 5.31%.

This economic growth rate has been the highest since Jokowi was appointed president in 2014. The economic growth in that period was recorded at 5.02%.

Meanwhile, the last time Indonesia's economic growth reached a level above 5% was in 2019, with a growth rate of 5.02%.

Dominated by Household Consumption

From the expenditure side, Indonesia's economic growth in 2022 will still be dominated by household consumption, with a distribution of 51.87% and growth reaching 4.93%.  This is due to increased activity in the business world and people's income.

Meanwhile, Gross Domestic Fixed Capital Formation (PMTB), with a contribution of 29.08%, grew by 3.87%. This was influenced by improved investment in all capital goods, especially machinery and vehicles.

Then exports, which contributed 24.49%, recorded the highest growth compared to other components, namely 16.28%.  Despite increasing, this export growth has weakened due to declining commodity prices.

As for government spending, which had a share of 7.66%, it actually contracted or experienced a negative growth of 4.51%. Imports and
The Non-Profit Institutions Serving Households (LNPRT) grew by 14.75% and 5.64%, respectively.  (ASP/KEN)