East Nusa Tenggara's economy in 2022 will grow by 3.05 percent

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East Nusa Tenggara's economy in 2022 will grow by 3.05 percent

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Release Date	:	February 6, 2023
File Size	:	1.38 MB

Abstract

The economy of East Nusa Tenggara (NTT) based on the amount of Gross Regional Domestic Product (GRDP) on the basis of prices in force in 2022 reached IDR 118.72 trillion and on the basis of constant prices in 2010 reached IDR 72.70 trillion.
NTT's economy in 2022 grew by 3.05 percent (c-to-c). In terms of business fields, the highest economic growth was achieved by the Provision of Accommodation and Food and Drink by 18.40 percent. Meanwhile, in terms of expenditure, the Export component of Goods and Services experienced the highest growth of 9.66 percent.
NTT's economy grew by 2022.3 percent in the fourth quarter of 45 compared to the same period in 2021 (y-on-y). In terms of business fields, the highest economic growth was achieved by the Large Trade and Retail fields, and Car and Motorcycle Repairs by 7.68 percent. Meanwhile, in terms of expenditure, the Consumption Expenditure Component of Non-Profit Institutions serving Households (PK-LNPRT) experienced the highest growth of 3.26 percent.
When compared to the previous quarter (q-to-q), NTT's economy in the fourth quarter of 2022 experienced growth of 2.52 percent. In terms of business fields, the highest growth occurred in the Construction business field of 8.51 percent. Meanwhile, in terms of expenditure, the Government Consumption Expenditure Component experienced the highest growth of 33.63 percent.
The economic structure of NTT in 2022 is still dominated by Agriculture, Forestry and Fisheries business fields with a contribution of 29.60 percent. Meanwhile, in terms of expenditure, it is still dominated by household consumption expenditure, which is 70.43 percent.

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