Sumatera Utara's economy in Q3-2024 grew 2.25 percent (q-to-q)

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Release Date	:	November 5, 2024
File Size	:	6.56 MB

Abstract

The economy of Sumatera Utara based on the amount of Gross Regional Domestic Product (GRDP) in the third quarter of 2024 at current prices reached IDR 292.40 trillion and at constant 2010 prices reached IDR 160.85 trillion.

The economy of Sumatera Utara in the third quarter of 2024 compared to the previous quarter experienced a growth of 2.25 percent (q-to-q). In terms of production, the highest growth was in the Other Services Business Field at 6.19 percent. In terms of Expenditure, the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) was the component experiencing the highest growth of 5.86 percent.

The economy of Sumatera Utara in the third quarter of 2024 compared to the third quarter of 2023 experienced a growth of 5.20 percent (y-on-y). In terms of production, the Accommodation and Food and Beverage Provision Business Field experienced the highest growth of 12.68 percent. Meanwhile, in terms of expenditure, the highest growth was in the LNPRT Consumption Expenditure Component of 12.11 percent.

Cumulatively up to the third quarter of 2024, Sumatera Utara Economy experienced growth of 5.01 percent (c-to-c). In terms of production, the highest growth occurred in the Accommodation and Food and Beverage Provision Business Field of 11.37 percent. Meanwhile, in terms of expenditure, the highest growth was in the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) of 12.60 percent.

The economic structure on the island of Sumatra spatially in the third quarter of 2024 was dominated by several provinces, including Sumatera Utara Province contributing 23.54 percent to the GRDP on the island of Sumatra, Riau Province by 22.94 percent; South Sumatra Province by 13.82 percent, and Lampung Province by 10.11 percent. Meanwhile, the lowest contribution was Bengkulu Province by 2.08 percent.

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