BPS: Central Sulawesi's Economy Grows 13.06 Percent In The Third Quarter Of 2023

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) noted that the economy of Central Sulawesi Province grew positively by 13.06 percent on an annual basis or year on year (yoy) in the third quarter of 2023.

"The economy of Central Sulawesi based on the amount of Gross Regional Domestic Product (GDP) at the current price in the third quarter of 2023 reached Rp 88.42 billion, and on the basis of constant price 2010 it reached Rp50.32 billion," said BPS Central Sulawesi Intermediate Expert Statistician Rukhedi quoted from ANTARA, Monday, November 6.

Cumulatively, continued Rukhedi, Central Sulawesi's economy in the third quarter of 2023 compared to the third quarter of 2022 grew by 12.69 percent (c-to-c).

He explained, for GDP growth according to the YoY business field, the Central Sulawesi economy is still supported by the processing industry sector by 27.91 percent, mining and quarrying by 13.32 percent and trade 10.15 percent, and the provision of food and drink accommodation by 10.05 percent.

Meanwhile, the GDRB structure contributed to economic growth in the third quarter of 2023, is also the highest of the processing industry at 42.32 percent.

Then from the mining and excavation sector by 15.59 percent as well as agriculture, forestry and fisheries by 14.78 percent. "Structurally, the processing industry has contributed greatly to Central Sulawesi's economic growth which has skyrocketed in the last 10 years," he said.

Meanwhile, in terms of expenditure on a yoy basis, he said, the joint export component of foreign and interprovincial provinces experienced the highest growth of 23.23 percent, then household consumption also increased by 5.69 percent.

Household consumption, according to him, has increased along with the increase in labor in several industrial areas such as Morowali Regency, and North Morowali.

The economy of Central Sulawesi in the third quarter of 2023 against the previous quarter grew by 5.96 percent quarter to quarter (qtq).

He explained that GDP growth according to the business field qtq, the manufacturing sector was still with the highest growth of 14.54 percent, mining and quarrying 12.48 percent, then financial services and insurance at 9.63 percent. Central Sulawesi economic growth in the third quarter of 2023 ranks second in the Sulawesi region, Maluku, Papua (Sulaka) at 13.06 percent yoy, after North Maluku with growth of 25.13 percent yoy.