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East Nusa Tenggara's economy in the first quarter of 2024 grew by 3.61 percent

Release Date	:	May 8, 2024
File Size	:	1.27 MB

Abstract

The economy of East Nusa Tenggara (NTT) based on the size of the Gross Regional Domestic Product (GRDP) at current prices in the first quarter of 2024 reached IDR 32.02 trillion and at constant prices in 2010 it reached IDR 18.40 trillion. NTT's economy in the first quarter of 2024 grew by 3.61 percent compared to the same period in 2023 (y-on-y). In terms of the business sector, the highest economic growth was achieved by the Electricity and Gas Procurement business sector, namely 15.22 percent. Meanwhile, in terms of expenditure, the Goods and Services Export Component experienced the highest growth, namely 20.31 percent.
When compared with the previous quarter (q-to-q), the NTT economy in Quarter I-2024 experienced a contraction of 6.64 percent. In terms of business fields, the highest growth occurred in the Processing Industry business field at 6.65 percent. Meanwhile, in terms of expenditure, the consumption expenditure of non-profit institutions serving households (PK-LNPRT) experienced the highest growth, namely 3.14 percent.
NTT's economic structure in the first quarter of 2024 is still dominated by the agriculture, forestry and fisheries business fields with a contribution of 28.88 percent. Meanwhile, in terms of expenditure, it is still dominated by Household Consumption Expenditures (PK-RT), namely 68.13 percent.

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