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Sumatera Selatan GRDP Growth Rate 5.03 Percent (2024)

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Release Date	:	February 5, 2025
File Size	:	1.5 MB

Abstract

The economy of South Sumatra Province in 2024, calculated based on Gross Regional Domestic Product (GRDP) at current prices, will reach IDR 663.96 trillion and GDP per capita will reach IDR 75.13 million.
The economy of South Sumatra Province in 2024 will grow by 5.03 percent. In terms of production, the highest growth occurred in the Accommodation and Food and Drink Provision Business Field at 9.39 percent. Meanwhile, the expenditure side was mainly driven by the Consumption Expenditure Component of Nonprofit Institutions Serving Households (PK-LNPRT) which grew by 15.53 percent.
The economy of South Sumatra Province in quarter IV-2024 compared to quarter IV-2023 experienced growth of 5.07 percent (y-on-y). In terms of production, the Health Services and Social Activities Business Field experienced the highest growth of 13.62 percent. In terms of expenditure, the highest growth occurred in the PK-LNPRT component, namely 7.42 percent.
The economy of South Sumatra Province in the fourth quarter of 2023 experienced a growth contraction of 1.85 percent (q-to-q) compared to the previous quarter. In terms of production, the Agriculture, Forestry and Fisheries Business Field experienced the deepest growth contraction of 12.54 percent. Meanwhile, in terms of expenditure, the imported goods and services component, which is a reducing factor in GRDP, experienced growth of 36.90 percent.

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