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East Nusa Tenggara's economy in the second quarter of 2024 grew by 4.35 percent

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Release Date	:	September 4, 2024
File Size	:	1.6 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 second quarter of 2024 reached IDR 34.83 trillion and at constant prices in 2010 it reached IDR 19.79 trillion.
NTT's economy in the second quarter of 2024 grew by 4.35 percent compared to the same period in 2023 (y-on-y). In terms of the business field, the highest economic growth was achieved by the business field of providing accommodation and food and drink, namely 10.72 percent. Meanwhile, in terms of expenditure, the Goods and Services Export Component experienced the highest growth, namely 24.46 percent.
When compared with the previous quarter (q-to-q), the NTT economy in the second quarter of 2024 experienced growth of 7.35 percent. In terms of the business field, the highest growth occurred in the business field of providing accommodation and food and drink at 15.46 percent. Meanwhile, in terms of expenditure, the Government Consumption Expenditure Component experienced the highest growth of 56.92 percent.
NTT's economy in Semester I-2024 grew by 4.08 percent (c-to-c). In terms of the business field, the highest economic growth was achieved by the business field of providing accommodation and food and drink at 10.41 percent. Meanwhile, in terms of expenditure, the Goods and Services Export Component experienced the highest growth, namely 20.15 percent.
NTT's economic structure in the second quarter of 2024 is still dominated by agriculture, forestry and fisheries with a contribution of 29.67 percent. Meanwhile, the expenditure side is still dominated by the Household Consumption Expenditure Component, namely 66.50 percent.

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