Digital Revolution Increases Economic Growth: BI

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Digital Revolution Increases Economic Growth: BI

ILUSTRASI - Menteri Komunikasi dan Informatika Rudiantara menjelaskan perkembangan industri digital saat acara Dig-In 2016 DigitalisMe di Jakarta, Kamis (17/3). ANTARA FOTO/M Agung Rajasa/wdy/16. (e011)

Jakarta (Antara Bali) - The utilization of the digital revolution in the economic activities could boost the economy to grow by seven percent (year on year), compared to the current growth rate of around five percent (year on year).

"The growth of digital companies has increased significantly both in the trade of goods and services (e-commerce), payment, and financing. The number of internet users who shop online on 2016 has reached 24.74 million people," the Governor of Bank Indonesia, Agus Martowardojo said here on Wednesday.

In the calculation of BI, during 2016, the users of electronic commerce (e-commerce) had spent Rp75 trillion.

In addition to e-commerce, digital revolution in Indonesia touched the financial sector because the number of financial technology companies in Indonesia grew by 78 percent in the last two years (2015-2016).

However, he noted, the potential of digital revolution and big data services are still very large. Many Indonesians have not received advantages from the digital revolution.

It was seen from the ratio between the number of internet users and the number of people in Indonesia which was about 51 percent in 2016.

"The figure is still far from our neighboring countries, such as Malaysia 71 percent and Thailand 67 percent," he said.

The poor quality of internet services and low investment in information technology caused the low ratio between the number of internet users and the number of people in the country.

"IT investment in key sectors contributing to economic growth such as manufacturing and mining is still relatively low," he stated.

If the obstacles in the utilization of digital technology can be overcome, the economic digitization can provide added value of US$150 billion to 2025 gross domestic product (GDP).

In recent years, Bank Indonesia has utilized the optimized big data services to support decision-making process.

Big data services can strengthen decision-making process in monetary, financial markets, financial system stability, payment system and others.

"If the ongoing digital revolution can be utilized properly, the economic growth can stand at seven percent every year," he said.(*)
Editor: Edy M Yakub