Jakarta. Indonesia's economic growth in the first quarter of 2024 reached 5.11 percent year on year (yoy), slightly below the Finance Ministry projection of around 5.17 percent. Compared to the fourth quarter of 2023, Indonesia's economy contracted by 0.83 percent.

Amalia Adininggar Widyasanti, Acting Head of the Central Statistics Agency (BPS), explained that the economic growth in the first quarter of 2024 was mainly supported by increased production, rising public mobility, increased investment realization, sustained purchasing power, and policy responses to drive growth.

"The economies of several main trading partner countries of Indonesia also grew amid stable global economic growth," said Amalia on Monday.

Household consumption was the main contributor to gross domestic product (GDP) with a growth of 4.91 percent, contributing 54.93 percent to GDP.

According to the field of business, most sectors showed positive growth, except for the agricultural sector which experienced negative growth.

Amalia said that the five sectors with the largest contributions to the economy were manufacturing, trade, construction, and mining, which showed positive growth, while agriculture contracted by 3.54 percent due to a decrease in agricultural commodity production at the beginning of the year, especially food crops due to the El Nino phenomenon.

"In the first quarter of 2024, the manufacturing sector remained the highest source of growth, at 0.86 percent," added Amalia.

Spatially, the provinces with the highest growth were Maluku and Papua, Sulawesi, and Kalimantan. The growth in these regions was mainly driven by the mining sector, local industry, and the development of the nation's future capital, Nusantara, in East Kalimantan.

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