Jakarta –
President Joko Widodo said ASEAN has the potential to become the center of world economic growth or the epicenter of growth. This was directly recognized by the Organization for Economic Co-operation and Development (OECD).
“By the OECD, ASEAN is considered a driver of world economic growth. As chairman of ASEAN, Indonesia wants to make the ASEAN region the center of world economic growth, as the epicenter of growth,” Jokowi said in his remarks at the 2023 ASEAN Inter-Parliamentary Assembly Summit at the Fairmont Hotel, South Jakarta, last Monday (7/8/2023).
ASEAN countries’ economic growth itself began to accelerate after the COVID-19 pandemic was over. Indonesia, for example, managed to grow 5.17% of its economy in the second quarter.
What is the economic growth of countries in Southeast Asia like? Here is detikcom’s summary:
The Central Statistics Agency (BPS) noted that economic growth in Indonesia in the second quarter of 2023 grew to 5.17% year on year (yoy). When viewed from a quarterly economic basis, Indonesia is still growing by 3.86%. This growth was supported by increased mobility and people’s purchasing power.
According to BPS, economic growth of 5.7% was mainly driven by components of household consumption, PMTB, government consumption and consumption of non-profit institutions which grew positively in the second quarter of 2023.
The Singapore Ministry of Trade and Industry (MTI) shows that the country’s economic growth reached 0.7% yoy in the second quarter of 2023. This growth was faster than the previous quarter which only reached 0.4%.
Even so, the manufacturing sector still contracted by 7.5% yoy. The weak performance in this sector was caused by a decrease in output in all manufacturing clusters, except for the transportation engineering cluster.
Meanwhile, the construction sector grew by 6.6% yoy, although not as big as in the first quarter which reached 6.9%. Growth in the construction sector this quarter was supported by increases in public and private sector construction output.
The Philippines’ Gross Domestic Product (GDP) recorded economic growth in the Country of Rice Storage reaching 4.3% in the second quarter of 2023.
The main contributors are wholesale and retail trade, motor vehicle repair by 5.3%, finance and insurance activities by 5%, and transportation and storage by 17.3%.
In addition, various economic sectors, such as agriculture, forestry and fisheries, and industry and services, showed positive growth in the second quarter of 2023, amounting to 0.2%, 2.1% and 6% respectively
Vietnam’s General Statistics Office (GSO) shows economic growth of 4.14% higher in the second quarter of 2023 compared to the previous quarter which reached 3.28%.
Despite acknowledging the difficulties and challenges, the Vietnamese government remains determined to encourage investment since early 2023. This will be a bright spot and the main driver of economic growth in the second quarter of 2023.
The Department of Statistics Malaysia (DSOM) noted that there was a slowdown in economic growth which fell from 5.6% in the previous quarter to 2.9% in the second quarter of 2023.
The sluggish economic growth was driven by a decline in several sectors. For example, the manufacturing sector experienced a decline of 4% in July 2023. During the second quarter of 2023, the manufacturing sector experienced its first decline since the second quarter of 2020, namely 16.5%.
On the other hand, Malaysia’s total trade in goods fell by 11.3% yoy in the second quarter of 2023, exports fell 11.1%, and imports fell 11.5%.
As of the second quarter of 2023, Thailand’s economic growth was recorded at 1.8%. The inflation rate is 1.1%.
(kilo/kilo)
2023-09-04 03:43:04
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