North Sumatra Investment Book
ECONOMIC PERFORMANCE
Aceh
4.37%
Sumatra Economic Growth
W. Sumatra
5.14%
8,00
N. Sumatra
Riau Islands
6,00
5.19%
5.04%
4,00
Riau
4.88%
2,00
Jambi
4.86%
Bengkulu
4.18%
BB BANK INDONESIA
BANK SENTRAL REPUBLIK INDONESIA
North sumatra, national economic growth and north
sumatra gdrp share toward sumatra & national
35
5,03 5,17
5,05
4,87 5,19 30
5,11 25
23,31
20
23,16
0,00
15
-2,00
10
S. Sumatra
-4,00
5
5.24%
-6,00
0
Bangka Belitung
||||||IV
II III IV IIIIII IV I III IV | || III IV | ||
5.13
2018
2019
2020
2021
2022
2023
National Economic grw (%yoy)
N. Sumatra Economic grw (%yoy)
Lampung
4.00%
N. Sumatra Economic share twd National (%)
Source: BPS, processed
N. Sumatra Economic share twd Sumatra (%)
•
North Sumatra economic growth in this second quarter grew 5.19% (yoy), increasing compared to the previous period and even higher than
national growth (5.17%, yoy) also Sumatra (4.90%, yoy) the same period. In terms of expenditure, the main growth acceleration came from
maintained purchasing and increasing mobility activities in line with religious holidays and school holidays. This reflected to the growth of
household consumption which reached 6% (yoy), higher than the average growth of household consumption before the pandemic of 4.99%.
Government consumption that recorded improvements in line with the realization of consumption as an effort to control inflation, the
cumulative progress of strategic road projects which reached 45.6% untill June of 2023, and the preparation for PON XIII Aceh-North Sumatra
in 2024.
On the other side, net exports contracted in line with the increase in import value and pressure on North Sumatra's main commodity prices in
the international market and China's economic rebound which was not as high as expected. Furthermore, the performance of Gross Fixed
Capital Investment (GFCI) moderated slightly eventhough still recorded positive, in line with investor caution to invest amid global economic
uncertainty.
In terms of business field, on an annual basis, the service sector has the highest growth compared to the goods sector accordance to Eid al-
Fitr moment, school holidays, and Eid al-Adha which occurred in the same quarter. This is reflected in high growth in Transportation and
Warehousing (12.29%, yoy), Other Services (10.22%, yoy), and Accommodation, Food and Drink Provision (9.21%, yoy).
18
North Sumatra Investment BookView entire presentation