Sumatera Utara Economy in Q2-2024 Grows 2.94 Percent (q-to-q)

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Release Date	:	August 5, 2024
File Size	:	3.94 MB

Abstract

The economy of Sumatera Utara based on the amount of Gross Regional Domestic Product (GRDP) in Q2-2024 at current prices reached IDR 285.32 trillion and at constant 2010 prices reached IDR 157.32 trillion.

The economy of Sumatera Utara in Q2-2024 compared to Q1-2024 experienced growth of 2.94 percent (q-to-q). In terms of production, the highest growth was in the Government Administration, Defense and Mandatory Social Security Business Sector at 17.64 percent. In terms of expenditure, the Government Consumption Expenditure Component (PK-P) was the component experiencing the highest growth of 19.89 percent.

The economy of Sumatera Utara in Q2-2024 compared to Q2-2023 experienced growth of 4.95 percent (y-on-y). In terms of production, the Accommodation and Food and Beverage Provision Business Sector experienced the highest growth of 9.75 percent. Meanwhile, in terms of expenditure, the highest growth was in the Export of Goods and Services Component of 11.24 percent.

Sumatera Utara Economy in Semester I-2024 compared to Semester I-2023 experienced a growth of 4.91 percent (c-to-c). In terms of production, the Accommodation and Food and Beverage Provision Business Sector experienced the highest growth of 10.67 percent. Meanwhile, in terms of expenditure, the highest growth was in the LNPRT Consumption Expenditure Component (PK-LNPRT) of 12.86 percent.

The Economic Structure on the Island of Sumatera spatially in Quarter II-2024 was dominated by several provinces, including North Sumatra Province contributing 23.51 percent to GRDP on the Island of Sumatra; Riau Province by 22.59 percent; South Sumatra Province by 13.61 percent; Lampung Province by 10.28 percent. Meanwhile, the lowest contribution was Bengkulu Province by 2.18 percent.

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