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GLOBAL ECONOMY-JAKARTA. Bank Indonesia (BI) observes that the structure of Indonesia's economy is beginning to shift from a commodity-based economic structure to a structure segmented towards the manufacturing industry.
Senior Deputy Governor of Bank Indonesia (BI) Destry Damayanti explained, that although the shift in economic structure is still in its early stages, its impact is already being felt as Indonesia's economic growth is still quite good.
"Even though it may still be in the early stages, we have already seen its impact. So we see that our economy's growth is okay," said Destry at the Economic Outlook 2024 event, in Jakarta, Wednesday (7/2).
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Destry acknowledged that downstream in the nickel sector has had a positive impact on export performance. She said, since downstream has been implemented, Indonesia's trade with China has been in surplus since 2021 and 2022.
"And yesterday we had a surplus with China, meaning there is a positive impact from the shift in our economic structure which was originally based on commodity base, starting to enter the processing industry base segment," she said.
For information, the Central Statistics Agency (BPS) recorded that Indonesia's economic growth in 2023 was 5.05% year on year (YoY), or lower than the economic growth of 5.31% YoY in 2022.
