Jakarta's Economic Growth Slows Again in 2024

The Central Statistics Agency (BPS) recorded that the economy of the Special Capital Region (DKI) Jakarta, based on the nominal Gross Regional Domestic Product (GRDP), reached Rp3.68 quadrillion in 2024.

Based on the constant price GRDP, Jakarta's economy grew by 4.9% in 2024, slowing down compared to the 4.96% growth in 2023.

This is the second slowdown. Previously, Jakarta's growth in 2023 also slowed compared to 2022, which reached 5.25%.

According to the BPS report, Jakarta's GRDP growth in 2024 occurred in almost all business sectors.

The sectors with the highest growth were accommodation and food services, which grew by 8.31%, construction by 6.99%, and transportation and warehousing by 6.96%.

However, two sectors contracted: electricity and gas supply, which fell by 16.16%, and mining and quarrying, which fell by 5.26%.

From the expenditure side, Jakarta's household consumption expenditure grew by 5.23% in 2024.

Furthermore, expenditure on non-profit institutions serving households grew by 11.82%, government consumption expenditure grew by 8.72%, and gross fixed capital formation grew by 5.2%.

Since 2020 until 2024, Jakarta's economic growth has consistently been lower than the national economic growth rate, as shown in the graph.