BI Survey Indicates Increased Business Activities in Q2 2023


According to a survey released by Bank Indonesia (BI), the business world is expected to experience increased activity in the second quarter of 2023.

The survey, which measures business activity, showed a significant improvement in the Balanced Net Balance (SBT) to 21.44%, higher than the previous quarter’s estimated SBT of 11.05%.

Erwin Haryono, the Head of BI’s Communication Department, noted that this increase in business activity is expected to occur in several key sectors, including agriculture and mining.

“In the agriculture sector, the continued harvest season and availability of production facilities will lead to increased business activity. The mining sector will also benefit from the availability of production facilities,” said Erwin on Friday (14/4/2023).

Additionally, the processing industry is experiencing increased activity due to higher demand and the availability of production facilities and storage capacity.

Other sectors, such as wholesale and retail trade, transportation and warehousing, and accommodation and food and beverage services, are also expected to experience increased activity due to higher domestic demand during the Idul Fitri 1444 H holiday.

The survey conducted by BI also indicates an increase in business activity during the first quarter of 2023. The SBT value of 11.05% is higher than the previous quarter’s SBT of 10.71%.

The agriculture, forestry, and fisheries sectors are showing signs of improvement, thanks to the historic harvest season pattern. The processing industry is also showing increased activity due to higher industrial activity, the availability of production facilities, and storage capacity.

“In addition, the mining and quarrying sector, wholesale and retail trade, and vehicle repair and maintenance are also experiencing increased activity due to higher domestic demand and increased mobility,” said Erwin.

The capacity utilization rate in the first quarter of 2023 was recorded at 72.33%, up from the previous quarter’s 71.49%. Employment also showed an increase and is in the expansion phase, while the financial conditions of the business world remain good, although not as high as the previous quarter.

This survey by BI provides positive news for the business world, as the country continues to recover from the economic impacts of the COVID-19 pandemic. The increased business activity in key sectors is expected to boost economic growth and create more job opportunities in Indonesia.