Hello Data Friends!
Today, Wednesday (5/8) the Central Statistics Agency of North Sulawesi Province released the second Quarter 2020 GRDP figures. Here's the summary:
• North Sulawesi's economy based on the amount of Gross Regional Domestic Product (PDRB) at the current price of the second quarter of 2020 reached IDR 30.84 trillion and at constant 2010 prices reached IDR 20.70 trillion.
• The economy of North Sulawesi in the second quarter of 2020 grew negatively by 3.89 percent (y-on-y). From the production side, most of the business fields experienced a contraction, with the deepest contraction occurring in the business field for providing accommodation and food and drink by -50.28 percent. From the expenditure side, the deepest contraction occurred in the component of Gross Fixed Capital Formation (PMTB) Expenditure, which amounted to -8.41 percent.
• North Sulawesi's economic growth in the second quarter of 2020 contracted by 3.16 percent (q-to-q). Different from previous years, the negative growth in this quarter was mainly influenced by the peak of activity restrictions in order to break the chain of the spread of COVID-19 which fell in the second quarter of 2020. Meanwhile, from the expenditure side, social restrictions cause almost all expenditure components to grow negatively, except for Government Consumption Expenditures (PKP) and Inventory Changes.
• Cumulatively, the economy of North Sulawesi in semester I-2020 compared to semester I-2019 grew by 0.09 percent.
• The economic structure of North Sulawesi in the second quarter of 2020 was dominated by 4 business fields in a row as follows: Agriculture, Forestry and Fisheries 22.21 percent; Wholesale and Retail Trade, Car and Motorcycle Repair 13.68 percent; Construction 10.73 percent; and the Processing Industry 9.68 percent. Then from the expenditure side, it was dominated by the Household Consumption Expenditure component of 44.15 percent; then the formation of gross domestic capital of 33.15 percent; Exports of goods and services by 24.12 percent; and Government Consumption Expenditure by 17.90 percent.
