The North Sumatran Economy Grows 4.95 Percent In The First Semester Of 2021, Contributing The Biggest To The GRDP Of The Island Of Sumatra

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The economy of North Sumatra in the second quarter of 2021 grew 4.95 percent year on year (yoy) as a result of the economic recovery in that period.

"North Sumatra's economy continues to grow. In the second quarter of 2021 it will grow 4.95 percent compared to the same period in 2020," said the Head of the Central Statistics Agency (BPS) for North Sumatra (Sumatra) Syech Suhaimi in Medan, quoted from Antara, Friday, August 6.

The economy of North Sumatra in the second quarter has also grown from the previous quarter or the first quarter of 1.83 percent.

He said the North Sumatran economy based on the amount of Gross Regional Domestic Product (GRDP) based on current prices in the third quarter of 2021 reached IDR 212.44 trillion and based on constant prices in 2010 it reached IDR 136.11 trillion.

In terms of production, he said, the highest growth was achieved by the financial services business sector of 7.87 percent. In terms of expenditure, the highest growth was in the component of exports of goods and services which grew by 18.89 percent.

"With the growth of North Sumatra's economy, North Sumatra has the largest contribution to GRDP on Sumatra Island or 23.35 percent," he said.

After North Sumatra, Riau Province contributed 22.53 percent and South Sumatra Province 13.50 percent.

Head of the North Sumatra Representative Office of Bank Indonesia (BI) Soekowardojo said BI predicts the North Sumatran economy in 2021 can grow positively by 3-4.5% yoy.

BI, he said, still believes that the North Sumatran economy in 2021 can grow 3-4.5% positively, although it could go down.

In 2020, North Sumatra's economic growth contracted quite deeply or minus 1.07 percent from 2019 which was 5.22 percent

The confidence in the economy that will grow, he said, increased after seeing a more positive movement in the North Sumatran economy in the second quarter and entering the third quarter of 2021.