DKI Jakarta Economic Release Quarter IV-2020

DKI Jakarta's economy in Quarter IV-2020 again grew positively 2.54 percent (q-to-q), slightly slowing down compared to quarter III-2020. The growth during these two quarters has not been sufficient to balance the large contraction that occurred in the second quarter of 2020. So that the economy of DKI Jakarta in 2020 will contract by minus 2.36 percent. Almost all business fields experienced contraction, except for Health Services, Information and Communication and Financial Services
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On the expenditure side, economic contraction occurred in all components except for Government Consumption Expenditure (PKP). Household consumption, which is the engine of growth in terms of expenditure, contracted due to the decline in people's purchasing power. Likewise for other components, such as Gross Fixed Capital Formation (PMTB), Exports and Imports.
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The difference in growth between business fields during the Covid-19 pandemic has more or less changed the economic structure of DKI Jakarta. The high need for Information and Communication Services in order to comply with health protocols has pushed this business field to grow very high beyond Corporate Services. In 2020, Information and Communication Services grew 11.12 percent and increased its contribution to 9.41 percent.