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Economic growth of Kepulauan Riau Province in the third quarter 2023

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Release Date	:	November 6, 2023
File Size	:	2.52 MB

Abstract

The Kepulauan Riau economy in the third quarter of 2023 as measured by the Gross Regional Domestic Product (GRDP) at current prices (ADHB) reached Rp82.10 trillion and at constant prices (ADHK) reached Rp49.36 trillion.

The Kepulauan Riau economy in the third quarter of 2023 (y-on-y) grew by 4.88 percent. In terms of business fields, growth in this quarter was driven by the Construction category which had a growth share of 2.56 percent and the Wholesale and Retail Trade, Car and Motorcycle Repair category which contributed 0.80 percent growth. In terms of expenditure, the PMTB component had a growth share of 4.08 percent and the PK-RT component with a share of 1.13 percent.

The Kepulauan Riau economy in the third quarter of 2023 compared to the second quarter of 2023 (q-to-q) grew by 0.42 percent. In terms of production, economic growth was mainly due to the Construction category with the largest growth share of 1.62 percent, followed by the Processing Industry category with a growth share of 1.52 percent. Meanwhile, from the expenditure side, the PMTB component contributed the largest growth of 3.43 percent, followed by the PKRT component with a share of 1.60 percent.

Until the third quarter of 2023, cumulatively (c-to-c) Kepulauan Riau economic growth grew by 5.47 percent compared to the same period the previous year.

In the regional scope, the Kepulauan Riau GRDP in the third quarter of 2023 contributed 7.17 percent to the GRDP of Sumatra Island.

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