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Sumatera Selatan’s Economy Strengtened in 2023

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Release Date	:	February 5, 2024
File Size	:	2.9 MB

Abstract

Sumatera Selatan’s economy based on Gross Domestic Product (GDP) at current prices in 2023 reached IDR629.10 trillion and GDP per capita reached IDR71.95 million.
Sumatera Selatan’s economy in 2023 grew by 5.08 percent. From the production side, Accommodation and Food Service Activities experienced the highest growth at 13.14 percent. Meanwhile on the expenditure side, the Component of Non-Profit Institutions Final Consumption Expenditure (NFCE) experienced the highest growth at 6.78 percent.
Sumatera Selatan’s economy grew by 4.94 percent in the fourth quarter of 2023, compared to the fourth quarter in 2022 (y-on-y). From production side, Accommodation and Food Service Activities experienced the highest growth at 13.56 percent. Meanwhile, on the expenditure side, the Component of Non-Profit Institutions Final Consumption Expenditure (NFCE) experienced the highest growth at 7.70 percent.
Sumatera Selatan’s economy experienced contraction of growth at 1.94 percent in the fourth quarter of 2023, compared to the third quarter in 2023 (q-to-q). From production side, f Agriculture, Forestry and Fishing experienced contraction at 12.38 percent. Meanwhile, on the expenditure side, the Component of Import grew by 20.42 percent.

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