Jakarta’s Economic Growth Quarter IV-2023

Jakarta’s economy based on Gross Regional Domestic Product (GRDP) had reached IDR 3,442.87 trillion at current prices and IDR 2,050.47 trillion at constant prices (2010) in 2023.

In 2023, Jakarta’s economy had increased by 4,96 percent, slower than the achievement in 2022 which grew by 5.25 percent. Meanwhile, on the expenditure side, NPISHs Final Consumption Expenditure (NPISHs FCE) experienced the highest growth rate at 9.84 percent.

The economy of Jakarta grew by 4.85 percent in the fourth quarter of 2023, compared to the same quarter of the previous year (y-on-y). Meanwhile, NPISHs Final Consumption Expenditure (NPISHs FCE) experienced the highest growth of 15.43 percent on the expenditure side.

Jakarta’s economy grew by 2.60 percent in the fourth quarter of 2023 compared to the previous quarter (q-to-q). Meanwhile, General Government Final Consumption Expenditure (GGFCE) had the highest growth rate of 45,74 percent on the expenditure side.

In 2023, Jakarta’s economic structure was dominated by. Meanwhile, in terms of expenditure components, the largest proportion of expenditure was on Exports of Goods and Services accounting for 66.29 percent of total expenditure. Household Final Consumption Expenditure (HFCE) accounted for 62.15 percent and Gross Fixed Capital Formation (GFCF) accounted for 34.24 percent