Indonesia's economic growth in the second quarter of 2022 was recorded at 5.44% yoy, or increased from growth in the first quarter of 2022 which was 5.23% year on year (yoy). Head of the Central Statistics Agency (BPS) Margo Yuwono, said that the source of domestic economic growth in the period April 2022 to June 2022 is the processing industry or manufacturing industry. “The processing industry in the second quarter of 2022 grew 4.01% yoy. This growth is driven by the momentum of Ramadan and Eid al-Fitr," said Margo in an online presentation related to economic growth in the second quarter of 2022, Friday (5/8).
Margo continued, the momentum of Ramadan and Eid al-Fitr grew industries, especially the food and beverage industry so that they could grow 3.68% yoy and the textile and apparel industry grew an impressive 13.74% yoy.
Unfortunately, the decline in exports of CPO and its derivatives as well as exports of cooking oil has hampered the growth of the food and beverage industry sub-sector. This is related to government policy at that time.
With this growth achievement, the manufacturing industry contributed 0.82% to the domestic economic growth rate in the second quarter of 2022.
However, despite continuing positive growth in the second quarter of 2022, the manufacturing industry's growth was not as high as its growth in the first quarter of 2022, which at that time reached 5.07% yoy.