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February 5, 2025 | 06:47 pm
TEMPO.CO, Jakarta - The acting head of Statistics Indonesia (BPS), Amalia Adininggar Widyasanti, announces that Indonesia’s economic growth throughout 2024 was slower at 5.03 percent, compared to the previous year, which logged 5.05 percent growth.
According to Amalia, the reasoning behind Indonesia’s economic slowdown last year can be seen from the growth’s contributing factors. The largest contributors to the growth based on spending include household consumption, Gross Fixed Capital Formation (PMTB), as well as exports and government consumption.
Despite recording a positive growth, exports were tighter compared to the previous year. “One component was holding back the growth rate, namely the net exports. Albeit positive, the growth was smaller than in 2023, thus, its contribution to economic growth becomes negative,” said Amalia at the BPS head office in Jakarta on Wednesday, February 5, 2025.
Based on BPS data, household consumption became the highest supporting source of growth in 2024, contributing 2.60 percent, followed by PMTB at 1.3 percent and government consumption at 0.48 percent.
Meanwhile, exports of goods and services contributed minus 0.01 percent to economic growth, unlike the previous year, when the component contributed 0.66 percent to growth.
Amalia presented the value of the Gross Domestic Product (GDP) based on constant prices for goods and services exports in 2024 at Rp513.7 trillion, or lower than the previous year, which was Rp514.36 trillion. "Still positive, but the positive value is smaller," she said.
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