Indonesia posted an economic growth rate of 5.03 percent in the first quarter of 2023, up from 4.02 percent in the same period last year, despite a slowdown in the global economy, according to Statistics Indonesia (BPS) on Friday.
The GDP growth recorded minus 0.92 percent on a quarterly basis, a contraction that always takes place in the January-March period, said BPS deputy for balance sheet and statistical analysis Edy Mahmud.
“This 5.03 percent indicates the trend of Indonesia’s economic growth is still stable,” said the official at a press conference.
People’s movement has increased as a result of the lifting of restrictions on community activities since December 2022, due to the controlled transmission of COVID-19.
Between January and March of this year, the transportation sector grew 69.37 percent for rail, 12.20 percent for sea transportation, and 58.18 percent for air transportation.
Furthermore, the number of visitors from abroad increased by 508.87 percent year on year during the cited period, Margo Yuwono, head of the BPS, told a press briefing on Tuesday.
Source: Xinhua Finance Agency