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East Nusa Tenggara's economy in the third quarter of 2023 grew by 2.08 percent

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Release Date	:	November 6, 2023
File Size	:	1.58 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 the third quarter of 2023 reached Rp 32.38 trillion and on the basis of constant prices in 2010 reached Rp 18.84 trillion.
NTT's economy in the third quarter of 2023 grew by 2.08 percent compared to the same period in 2022 (y-on-y). In terms of business field, the highest economic growth was achieved by the Electricity and Gas Procurement field, which was 17.02 percent. Meanwhile, in terms of expenditure, the Gross Domestic Fixed Capital Formation Component (PMTB) experienced the highest growth of 7.88 percent.
When compared to the previous quarter (q-to-q), NTT's economy in the quarter
III-2023 contracted by 0.60 percent. In terms of business field, the highest growth occurred in the Construction business field of 11.65 percent. Meanwhile, in terms of expenditure, the Export Component of Goods and Services experienced the highest growth of 18.30 percent.
NTT's economy in the first to third quarters of 2023 grew by 3.30 percent (c-to-c). In terms of business field, the highest economic growth was achieved by the Electricity and Gas Procurement business field of 10.74 percent. Meanwhile, in terms of expenditure, the Gross Domestic Fixed Capital Formation (PMTB) component experienced the highest growth of 4.47 percent
NTT's economic structure in the third quarter of 2023 is still dominated by the Agriculture, Forestry and Fisheries business fields with a contribution of 29.24 percent. Meanwhile, in terms of expenditure, it is still dominated by Household Consumption Expenditure, which is 68.66 percent.

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