In the second quarter of 2024, the economy of East Kalimantan (Kaltim) was dominated by five key sectors: mining, manufacturing, construction, agriculture, and trade. The construction and trade sectors exhibited positive growth, outperforming the previous quarter. Meanwhile, the mining and agriculture sectors also contributed positively, although at a slower rate compared to the prior quarter. According to Budi Widihartanto, the Head of Bank Indonesia's Kaltim Representative Office, the contributions to year-on-year (yoy) growth for each sector were as follows: mining at 2.97%, manufacturing at -0.45%, construction at 1.35%, trade at 0.58%, and agriculture at 0.20%. Based on market share, the mining sector led with 38.69%, followed by manufacturing at 17.98%, construction at 11.66%, agriculture at 8.52%, and trade at 6.93%. Budi highlighted that the increased performance in the construction and trade sectors, along with the sustained positive growth in the mining sector, were the primary drivers of Kaltim's economy in the second quarter of 2024.
The mining sector grew positively at 6.44% yoy, although this was a deceleration from the 10.47% yoy growth seen in the previous quarter. This slowdown was attributed to reduced demand from major trading partners, including China and ASEAN countries, and high rainfall. Despite this, the mining sector maintained its positive growth due to its significant market share, making it the highest contributor to growth at 2.97% yoy. In addition, the government of Cirebon, West Java, has launched consultation services and development programs for micro, small, and medium enterprises (MSMEs) to help them expand their market reach internationally. This initiative aims to overcome the challenges faced by MSMEs in understanding export mechanisms and requirements. The Cirebon City government is currently opening market access for MSMEs to South Korea and collaborating with Bank Indonesia Cirebon to facilitate discussions between MSMEs, tax authorities, and customs officials regarding export processes. This collaborative effort is expected to support the growth of MSMEs in the Cirebon region and enable more MSMEs to penetrate global markets.
