The country’s first economic growth since the onslaught of the pandemic in March 2020
In the second quarter of 2021, Tempo.co reported that Indonesia’s economy saw a growth recovery for almost every sector, a progressive improvement from its previous consecutive downward slump.
Airlangga Hartarto, coordinating minister for economic affairs, said that the increase is most evident in the manufacturing, trade, and transportation sectors.
“Business sectors are growing positively and showing improvement due to increasing domestic demands,” expounded the minister at a press conference held at the start of the month.
The major sectors that have documented developments throughout the quarter are warehousing and transportation, processing, retail and major trades, as well as food and beverage, and accommodation supplies.
This meant that the retail and industrial winners of PropertyGuru Indonesia Property Awards, such as PT Jababeka Tbk, Ciputra Group, Ariobimo Laguna Perkasa, and the Ministry of Public Works and Housing, benefitted from the sectors’ recoveries despite the drawbacks of the ongoing public health crisis.
Among the sectors, warehousing and transportation registered the highest growth at 25.1 percent, a stark difference from the 13.12 percent growth during the first quarter.
The food and beverage, and accommodation sectors followed suit, logging a 21.58 percent growth from only 7.26 percent in Q1. The trading and processing sectors noted a 9.44 percent and 5.58 percent growth, respectively.
The healthcare services sector, on the other hand, recorded an 11.02 percent growth from 3.01 percent in Q1. The real estate sector is also starting to show signs of growth for about 2.82 percent.
Overall, The Jakarta Post revealed that Indonesia’s economy soared 7.07 percent year-on-year in Q2, its first registered growth since the onslaught of the pandemic in March 2020. This economic rise indicated that the country has evaded a recession following a consecutive drop in the previous quarters.
Know of any award-worthy homes, condos, flats, or other real estate projects in Indonesia? Nominate them for the 2021 Indonesia Property Awards on or before 10 September 2021. Simply visit asiapropertyawards.com/en/award/indonesia-property-awards/ for more details.
Gynen Kyra Toriano, Digital Content Manager at PropertyGuru, wrote this article. For more information, email: [email protected].
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