Bedah Data PDB RI Q2-2024, Ada Sinyal Ekonomi RI Dalam Bahaya?

Summary

In the second quarter of 2024, Indonesia’s economy demonstrated resilience with a 5.08% growth, driven by strong domestic demand and high mobility during holidays. Despite slightly slower growth compared to Q1, the economic fundamentals remain robust, supported by investment growth and a rise in international tourism. Household consumption showed gradual recovery, particularly in sectors like transportation, restaurants, and hotels. The report highlights Indonesia’s economic strength amid global uncertainties, with steady progress in key sectors that help sustain overall economic stability.

Takeaways

• 😀 Indonesia's economic growth in Q2 2024 was 5.08%, showing resilience amidst global uncertainties.
• 😀 While Q2 growth was slightly slower than Q1 2024, seasonal factors often influence quarterly economic performance.
• 😀 The Q2 2024 economic growth demonstrates Indonesia's strong macroeconomic fundamentals despite external challenges.
• 😀 Domestic demand and domestic activity were key drivers of Indonesia's economic growth in Q2 2024.
• 😀 The second quarter saw a boost in mobility due to major holidays such as Idul Fitri and Idul Adha, which supported economic activity.
• 😀 Investment growth in Q2 2024 outpaced that of Q1 2024, indicating strong investment confidence in the economy.
• 😀 Net exports, while still positive, showed a smaller surplus compared to previous quarters, marking a slight slowdown in external demand.
• 😀 The number of international tourists visiting Indonesia rose significantly in Q2 2024, boosting service exports, particularly in tourism.
• 😀 Services exports, especially tourism-related services, grew by double digits, with a 14% increase in Q2 2024.
• 😀 Although household consumption grew by 4.93% in Q2 2024, it remained below 5%, reflecting gradual recovery in consumer spending.
• 😀 Key sectors driving household consumption growth were transportation, restaurants, and hotels, which benefited from high public mobility during holidays and school breaks.

Q & A

What was Indonesia's economic growth rate in the first half of 2024?

Indonesia's economy grew by 5.08% in the first half of 2024, reflecting a resilient performance despite global uncertainties.

How did the second quarter of 2024 compare to the first quarter in terms of economic growth?

In the second quarter of 2024, Indonesia’s economy grew by 5.05%, slightly slower than the 5.11% growth in the first quarter of 2024.

What were the main drivers of Indonesia’s economic growth in the second quarter of 2024?

The main drivers of growth were strong domestic demand and high activity in the domestic economy, particularly due to religious holidays and school vacations that boosted mobility and consumption.

How did household consumption perform in Q2 2024 compared to Q1 2024?

Household consumption grew by 4.93% in Q2 2024, slightly higher than the 4.91% growth in Q1 2024, indicating a gradual improvement in consumption.

What sectors contributed most to household consumption growth in Q2 2024?

The sectors contributing the most to household consumption were transportation, restaurants, and hotels, with growth rates of 6.84% and 6.8%, respectively.

Why was household consumption growth in Q2 2024 still below 5%?

The growth remained below 5% due to a gradual recovery in household purchasing power and consumption, which is still in the process of returning to pre-pandemic levels.

How did Indonesia's net export performance change in Q2 2024?

Indonesia’s net export performance remained positive in Q2 2024, but the surplus was smaller compared to previous quarters.

What impact did global uncertainty have on Indonesia's economy in Q2 2024?

Despite global uncertainty, Indonesia's economy showed resilience and was able to maintain steady growth, driven by strong domestic demand and a robust economic structure.

How did foreign tourism affect Indonesia’s economic growth in Q2 2024?

Foreign tourism significantly boosted Indonesia’s economy in Q2 2024, contributing to a double-digit growth in the export of services, which rose by 14%.

What does the gradual recovery in household consumption indicate for the future?

The gradual recovery in household consumption suggests that while there is ongoing improvement in consumer spending, efforts will be needed to support continued growth and address underlying challenges, such as purchasing power.