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Jakarta’s Imports in February 2022 Hit Beyond pre-Covid Levels

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Release Date	:	April 1, 2022
File Size	:	3.59 MB

Abstract

Jakarta's public optimism has played an essential role in accelerating domestic economic recovery at the beginning of 2022. Positive public sentiment prompted an increase in domestic demand, which triggered the growth of domestic production activity. As a result, the domestic economic acceleration showed a good performance, which was reflected in the value of imports in February 2022.

Jakarta's imports in February 2022 reached US$ 5.5 billion. Following the trend in the value of imports in January 2022, this figure became the highest in the last three years, surpassing the pre-pandemic figure in February 2019. Although this figure slid off 17.7 percent compared to the previous month, as there was a downward trend on a monthly basis at the beginning of the year in the last two years, this figure increased by 25.7 percent compared to Februari 2021 (year-on-year). This high year-on-year growth was mainly driven by imports in the oil and gas and non-oil and gas sectors.

In this period, based on the classification of the use of imported goods (BEC), all the groups showed a positive growth compared to February 2021 (year-on-year). Moreover, Imports of capital goods accounted for the largest increase (41.4 percent), followed by imports of raw and auxiliary materials (24.3 percent) and consumer goods (7.3 percent).

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