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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, healt💞h and welfare ﷺfunds, monetary authorities, stock exchanges, and collection and credit agencies.
While even before the pandemic, information and communication was one of the best-performing sectors of the Indonesian economy, in 2020 its real GVA regist𝔉ered a 10.6% y/y growth amid a 2.1% y/y decline of the real GDP. Its value reached IDR 695.8tn, ...
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Indonesia’s financial sector was among the few to continue groღwing during 2020, showing its resilience to external shocks. The sector’s GVA expanded by a real 3% y/y in 2020, the year that brought the country’s first recession ...
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According to the 2019 Global Competitiveness Index of the World Economic Forum (WEF), there are significant disparities between the econoꦍmies of ASEAN countries. For example, while Singapore was deemed the world’s most 🌳competitive ...
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The Mexican agriculture sector, including crop, livestock and fisheries, plays a key role in the domesti🍌c economy. Agriculture GVA accounted for 3.8% of GDP in 2020, and the sector is among the largest employers in the country ...
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Joko Widodo won the hotly contested presidential elections of 2014 based, in part, on a platform of infrastructure&nb🌳sp;investment to accelerate economic growth. This was successful as for decades the Indonesian economy had been plagued with ...
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