For the region, ADB projects 5 percent growth in 2022, up from April's projection of 4.9 percent.
"We have a positive view of the prospects for investment in Indonesia going forward because we see that in recent years the economic reforms carried out by the Indonesian government have provided stability in Indonesia's macro economy"
Borders shouldnt hinder Indonesia and Timor Leste from maintaining their political, sociocultural, and economic relations.
56 Percent of Indonesian Economy Concentrated on Java Island: BPS
TheIndonesia.id - Head of the Central Statistics Agency (BPS) Margo Yuwono revealed that Indonesia's economy in the second quarter of 2022 was still concentrated on the island of Java, which can be seen from the dominance of the provincial groups on the island in terms of gross domestic product (GDP). Yuwono explained that the main driver of economic growth in Java is the industrial sector with a share of 1.9 percent and trade by 0.94 percent.
"Java Island contributes 56.55 percent to GDP," said Yuwono in the announcement of Economic Growth Quarter II 2022 which was monitored online by Antara in Jakarta, Friday, August 5, 2022.
The contribution came from the economic growth of Java Island reached 5.66 percent in the second quarter of this year when compared to the same period the previous year (year-on-year).
After Java Island, the structure of the domestic economy is spatially dominated by Sumatra Island with a share of 22.03 percent due to the island's economic growth of 4.95 percent (YoY), driven by the trade sector with a share of 1.45 percent and agriculture at 0.86 percent.
Furthermore, Kalimantan Island contributed 9.09 percent to Indonesia's GDP with 4.25 percent (YoY) growth, which was driven by the mining sector with 1.46 percent share and 0.86 percent trade.
He continued, Sulawesi Island managed to contribute 7.1 percent to the national GDP with a growth of 6.47 percent (YoY), thanks to the main drive from the industrial sector with a share of 2.29 percent and trade of 1.18 percent.
The islands of Bali and Nusa Tenggara contributed 2.73 percent of Indonesia's GDP with a growth of 3.94 percent (YoY), driven by the mining sector with a role of 1.24 percent and accommodation and food and drink 0.73 percent.
Meanwhile, the islands of Maluku and Papua contributed 2.51 percent to Indonesia's GDP, with a growth of 13.01 percent (YoY) supported by the mining sector with a share of 7.38 percent and industry of 2.66 percent. "However, Maluku and Papua recorded the highest growth in the second quarter of this year compared to other islands," he said.