Today, February 5, 2021, BPS of North Sulawesi Province released quarterly economic growth indicators for the fourth quarter of 2020. The economy of North Sulawesi based on the amount of Gross Regional Domestic Product (GRDP) at the current 2020 price reached IDR 132.30 trillion and based on constant 2010 prices reached IDR 88.13 trillion.
The economy of North Sulawesi in 2020 experienced a growth contraction of -0.99 percent (c-to-c). From the production side, most of the business fields were still contracted, with the deepest contraction occurring in the business field for providing accommodation and food and drink at -25.96 percent. In terms of expenditure, the highest growth was achieved by the Component of Household Consumption Expenditure, which contracted by -2.34 percent.
The economy of North Sulawesi in quarter IV-2020 when compared to the previous quarter grew by 7.66 percent (q-to-q). From the production side, most of the business fields have begun to grow better as a result of increasing community activity. Meanwhile, from the expenditure side, the highest growth was achieved by the Government Consumption Expenditure Component which grew by 16.45 percent.
The economy of North Sulawesi in the fourth quarter of 2020 experienced a growth contraction of -2.23 percent when compared to the fourth quarter of the previous year (y-on-y). From the production side, the deepest contraction occurred in the trading business field, which amounted to -8.74 percent. Meanwhile, from the expenditure side, the deepest contraction occurred in the Export of Goods and Services component, namely -10.43 percent.
The economic structure of North Sulawesi in 2020 is dominated by 5 business fields in a row as follows: Agriculture, Forestry and Fisheries by 21.51 percent; Wholesaler and Retail Trade, Car and Motorcycle Repair 13.06 percent; Construction 11.33 percent; Processing Industry 9.56 percent; and Transportation and Warehousing 9.37 percent. Then from the expenditure side, it was dominated by the Household Consumption Expenditure component of 43.29 percent, then the Gross Domestic Fixed Capital Formation of 35.33 percent, and the Export of Goods and Services by 24.49 percent.
For detailed information and data download, please access the North Sulawesi Provincial BPS website.
Website: sulut.bps.go.id
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