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North Maluku Economy Contracts 2.65 Percent in Q3–2024 (q-to-q)

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Release Date	:	November 15, 2024
File Size	:	0.7 MB

Abstract

The economy of North Maluku in Q3–2024 as measured by Gross Regional Domestic Product (GRDP) at current prices reached IDR 22.3 trillion and at constant 2010 prices reached IDR 13.0 trillion.

The economy of North Maluku in Q3–2024 compared to Q2–2024 contracted by 2.65 percent (q-to-q). In terms of production, the Government Administration, Defense and Compulsory Social Security Business Sector experienced the deepest contraction of 13.84 percent. Meanwhile, in terms of expenditure, the Export of Goods and Services Component experienced the deepest contraction of 5.58 percent.

The economy of North Maluku in Q3–2024 compared to Q3-2023 experienced growth of 4.42 percent (y-on-y). In terms of production, the Financial Services and Insurance Business Sector experienced the highest growth of 16.53 percent. In terms of expenditure, the Government Consumption Expenditure Component (PK-P) experienced the highest growth of 12.50 percent.

Up to Quarter III–2024, the economy of North Maluku experienced growth of 8.90 percent (c-to-c). From the production side, the largest growth occurred in the Government Administration, Defense and Mandatory Social Security business sector at 16.03 percent. Meanwhile, from the expenditure side, the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) experienced the highest growth of 12.70 percent

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