South Sumatra Economic Growth in Quarter III-2024 Grows 5.04 Percent (Y-on-Y)

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Release Date	:	November 5, 2024
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Abstract

The economy of South Sumatra based on the size of Gross Regional Domestic Product (GRDP) at current prices for the third quarter of 2024 reached IDR 171.65 trillion and at constant prices in 2010 it reached IDR 97.41 trillion.

South Sumatra's economy in the third quarter of 2024 experienced growth of 2.47 percent (q-to-q) compared to the previous quarter. In terms of production, the Mining and Quarrying Business Field experienced the highest growth of 8.30 percent. Meanwhile, in terms of expenditure, the foreign export component experienced the highest growth of 16.94 percent.

South Sumatra's economy in the third quarter of 2024 experienced growth of 5.04 (y-on-y). In terms of production, the Financial Services Business Field experienced the highest growth of 10.23 percent. In terms of expenditure, the highest growth occurred in the Consumption Expenditure Component of Nonprofit Institutions Serving Households (PK-LNPRT), namely 16.32 percent.

As of Quarter III-2024, the South Sumatra economy experienced growth of 5.02 percent (c-to-c). In terms of production, the Government Administration, Defense and Mandatory Social Security business fields experienced the highest growth of 9.53 percent. In terms of expenditure, the highest growth occurred in the PK-LNPRT component, namely 18.20 percent.

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