The Economy of the Bangka Belitung Islands Province in the First Quarter of 2023 Grew 4.37 Percent (Y-on-Y), Contracted 4.51 Percent (Q-to-Q)

Release Date	:	May 9, 2023
File Size	:	0.77 MB

Abstract

The economy of the Bangka Belitung Islands Province in the first quarter of 2023 as measured by the Gross Regional Domestic Product (GDP) at current prices (ADHB) reached IDR 24.22 trillion and the GRDP at constant prices (ADHK) in 2010 reached IDR 14.33 trillion.
The economy of the Bangka Belitung Islands Province in the first quarter of 2023 compared to the first quarter of 2022 (y-on-y) grew by 4.37 percent, an increase compared to the achievements in the first quarter of 2022 which grew by 3.28 percent. From the production side, most of the business fields grew positively where the highest growth was achieved by the Financial Services and Insurance business sector which grew by 22.75 percent. Meanwhile, from the expenditure side, most of the expenditure components also experienced growth where the highest growth was achieved by the Government Consumption Expenditure component which grew by 8.00 percent.
The economy of the Bangka Belitung Islands Province in the first quarter of 2023 compared to the previous quarter (q-to-q) contracted by 4.51 percent. From the production side, most business fields experienced a growth contraction where the largest contraction occurred in the Government Administration, Defense and Compulsory Social Security business fields by 19.25 percent. From the expenditure side, the biggest contraction occurred in the Government Consumption Expenditure component of 44.19 percent.
The economy of Sumatra Island in the first quarter of 2023 grew by 4.79 percent compared to the first quarter of 2022 (y-on-y). The total ADHB PDRB of Sumatra Island in the first quarter of 2023 reached IDR 1,088.00 trillion or around 21.82 percent of the total GRDP of 34 provinces in Indonesia. Meanwhile, the total PDRB of ADHK on the island of Sumatra in the first quarter of 2023 reached IDR 628.18 trillion. The GRDP of the Bangka Belitung Islands Province in the first quarter of 2023 only contributed 2.23 percent to the GRDP of Sumatra Island and 0.49 percent to the total GRDP of 34 provinces in Indonesia.

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