Tuesday, 14 June 2022 10:04

East Java's Economic Rate in the First Quarter of 2022 Increases by 5.20%

Khofifah Indar Parawansa, the Governor of East Java, said that East Java's non-oil and gas exports were increasing in line with the recovery in global economic conditions after Covid-19. The value of non-oil and gas exports in East Java Province for the January-April 2022 period recorded a yield of 7,728.2 million dollars or grew positively y-o-y by 19.08%. "This shows a positive trend when compared to the value of non-oil exports for the same period in 2021 of USD 6,490,3 million," said Khofifah, Monday (13/6/2022). In addition, based on data from the Central Statistics Agency (BPS) as of May 2022, y-o-y an increase in East Java's foreign exports occurred in exports of jewelry, copper, wood and chemicals. "The non-oil and gas export commodities in April 2022 include animal or vegetable fats and oils amounting to USD 209.7 million dollars with a contribution of 10.03%. The details include Timber, USD 170.3 million with a USD 170.3 million contribution. Then copper amounted to USD 166.9 million with a contribution of 7.99%," She explained. Khofifah said that the destination countries for non-oil and gas exports in April 2022 included the United States of USD 344.2 million dollars with a contribution of 16.47%. Then China amounted to USD 318.1 million with a contribution of 15.22% and Japan amounted to USD 297.3 million with a contribution of 14.23%.


"The contribution of European and Asian countries is predicted to increase in line with the economic growth rate after the COVID-19 pandemic," She added. Furthermore, the increasing value of non-oil and gas exports in East Java was also followed by the economic rate of East Java in the first quarter of 2022 compared to the first quarter of 2021 which grew by 5.20% (y-o-y). “The highest growth came from the production side, in the transportation and warehousing business field which grew by 18.79%. Meanwhile, in terms of expenditure, the highest growth occurred in the Foreign Export Component, which grew by 35.97%," She said. Khofifah invites all elements of society to continue to build optimism and efforts to realize East Java Rise. He believes that synergistic and collaborative efforts from all parties will be able to leverage the welfare of the people of East Java. “Alhamdulillah, our economic growth continues to move positively. Where the economic rate of East Java's economy in Quarter I-2022 compared to Quarter I-2021 grew by 5.20% (y-o-y). This is in line with the recovery of post-pandemic conditions, and the continued encouragement of economic recovery in East Java," She said.


Source: https://www.suarasurabaya.net/ekonomibisnis/2022/laju-ekonomi-jawa-timur-triwulan-i-2022-meningkat-520-persen/

 

 

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