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Communication Department

4/22/2024 10:00 AM
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Business Survey Q1/2024 Business Activity Increasing

Siaran Pers
Press Releases

No. 26/77/DKom  

According to the latest Business Survey conducted by Bank Indonesia, business activity increased in the first quarter of 2024, as reflected by an uptick in the Weighted Net Balance (WNB) to 14.11% from 13.17% in the fourth quarter of 2023. All economic sectors posted positive performance in the reporting period, with the largest gains recorded in Agriculture, Forestry, and Fishing given the onset of the harvesting season and other seasonal factors in terms of food crops, horticultural crops, plantation crops, and livestock. Furthermore, the Manufacturing Industry as well as Wholesale and Retail Trade, and Repair of Motor Vehicles and Motorcycles recorded positive growth on the back of higher demand during the General Election and holy fasting month of Ramadan.

Production capacity utilisation remained solid in the first quarter of 2024 at 73.61% despite retreating from 73.91% in the previous period. This was primarily supported by Agriculture, Forestry, and Fishing as well as the Manufacturing Industry. Meanwhile, labour utilisation remained strong in an expansionary phrase. In general, corporate financial conditions remained solid, particularly in terms of liquidity and profitability, coupled with easier access to financing.

Respondents predict further increases in business activity in the second quarter of 2024, as indicated by a higher WNB of 18.94%. Respondents forecast broad-based growth across all economic sectors, particularly Agriculture, Forestry, and Fishing because of the delayed harvesting season from the first quarter to second quarter of 2024, particularly affecting food crops at several national production hubs, as well as horticultural and plantation crops. In addition, the Manufacturing Industry, Wholesale and Retail Trade, and Repair of Motor Vehicles and Motorcycles, Transportation and Storage, as well as Accommodation and Food Service Activities are also expected to enjoy positive growth given increasing demand during the Eid-ul-Fitr national religious holidays (HBKN), together with several marketing and discount pricing strategies implemented by the respondents.

More information concerning the Bank Indonesia Business Survey is available via the Bank Indonesia website.


Jakarta 22nd April 2024

Communication Department

Erwin Haryono

Governor Assistant


Contact Center BICARA : (62 21) 131
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​​​​Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time​​

Halaman ini terakhir diperbarui 4/22/2024 10:04 AM
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