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Jakarta’s Economic Growth in The Fourth Quarter of 2024

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Release Date	:	February 5, 2025
File Size	:	4.174052 MB

Abstract

Jakarta’s economy in 2024 based on Gross Regional Domestic Product (GRDP) reached IDR 3,679.36 trillion at current prices and IDR 2,151.04 trillion at constant 2010 prices.
Jakarta’s economy in 2024 grew by 4.90 percent (c-to-c), slower than the 4.96 percent growth recorded in 2023. Based on industry, the highest growth was attained by Accommodation and Food Service Activities at 8.31 percent. Meanwhile, on the expenditure side, NPISHs Final Consumption Expenditure (NPISHs FCE) experienced the highest growth rate at 11.82 percent.
Compared to the fourth quarter of 2023, Jakarta's economy in Q4-2024 grew by 5.01 percent (y-on-y). Based on industry, the highest growth was achieved by Construction at 9.39 percent. Based on the expenditure component, Export of Goods and Services experienced the highest increase of 14.66 percent.
Compared to the previous quarter, Jakarta's economy grew by 2.68 percent (q-to-q). On the production side, the highest growth was achieved by Mining and Quarrying at 8.17 percent. Meanwhile, on the expenditure side, Government Final Consumption Expenditure (GFCE) obtained the highest growth of 37.37 percent.
Jakarta's economic structure in 2024 was dominated by the Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycle industry with contribution at 18.01 percent to the total economy. Meanwhile, from the expenditure side, the most significant contributor was the Household Final Consumption Expenditure (HFCE) component, at 62.03 percent of the total economy.

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