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Despite the slowdown, North Sumatra's economy continues to grow

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Release Date	:	November 6, 2023
File Size	:	0.98 MB

Abstract

The economy of North Sumatra based on the size of the Gross Regional Domestic Product (GRDP) for the third quarter of 2023 at current prices reached IDR 267.30 trillion and at constant prices in 2010 it reached IDR 152.91 trillion.
North Sumatra's economy in the third quarter of 2023 experienced growth of 2.00 percent (q-to-q) compared to the previous quarter. In terms of production, the highest growth was in the Construction Business Field at 4.46 percent. In terms of expenditure, the Export Component of Goods and Services was the component experiencing the highest growth at 6.14 percent.
North Sumatra's economy in quarter III-2023 to quarter III-2022 experienced growth of 4.94 percent (y-on-y). In terms of production, the Transportation and Warehousing Business Field experienced the highest growth of 12.41 percent. Meanwhile, in terms of expenditure, the LNPRT Consumption Expenditure component experienced the highest growth of 8.72 percent.
Cumulatively up to Quarter III-2023, the North Sumatra economy experienced growth of 5.00 percent (c-to-c). In terms of production, the highest growth occurred in the Transportation and Warehousing Business Field at 13.39 percent. Meanwhile, in terms of expenditure, the highest growth was in the LNPRT Consumption Expenditure Component at 7.96 percent.

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