Increased Mobility, Jakarta's Economy Grew 5.59% in Q2 2022

The recovery of Jakarta's economy continued in the second quarter of 2022. Statistics Indonesia (BPS) recorded that the capital city's economic growth reached 5.59% in Q2 2022 compared to Q1 2022 (year on year/yoy).

According to BPS, the increase in public activity during Ramadan, Idul Fitri, and Easter, as well as the holding of various national and international events, were the main drivers of economic growth.

The business sectors that drove Jakarta's economy with the highest growth were Health and Social Activities, which grew by 15.66% (yoy), followed by Other Services at 15.12% (yoy), and the Trade sector at 8.25% (yoy).

On the other hand, three business sectors experienced contraction: Mining and Quarrying, Water Supply, and Education Services.

From the expenditure side, the highest growth occurred in the Non-Profit Institutions Serving Households (NPISH) Consumption Expenditure component, at 6.11% (yoy).

Next, the component with the second largest growth was Gross Fixed Capital Formation (GFCF), which grew by 5.78% (yoy), and Household Consumption Expenditure (HCE) which grew by 5.27% (yoy).

(Also Read: Jakarta's Food Inflation Reaches 5.84% (YoY) in June 2022)