The Kepri Islands report a 4.88 percent economic growth in the third quarter of 2023, bolstered by robust construction and trade activities.
Kepri’s economic performance, assessed by the Gross Regional Domestic Product (GRDP), reached IDR 82.10 trillion at current prices and IDR 49.36 trillion at constant prices, signaling a vigorous post-pandemic recovery.
The economy of Kepri grew 4.88 percent year-on-year, steered by significant contributions from construction (2.56 percent) and trade (0.80 percent).
The Gross Fixed Capital Formation (PMTB) was the primary driver of growth, contributing 4.08 percent, alongside Household Consumption Expenditure at 1.13 percent.
Quarter-on-quarter, Kepri’s economy saw a growth of 0.42 percent, with a cumulative year-to-date expansion of 5.47 percent compared to the same period last year.
Governor Ansar Ahmad praised the economic resilience and adaptability of Kepri in the face of pandemic challenges, highlighting the region’s high potential and competitiveness.
The BPS Kepri’s release noted various economic phenomena, including the impact of hot weather on agriculture, a decrease in air and sea passenger numbers, and a significant increase in foreign tourist visits.
Kepri’s economic growth indicates a thriving regional market. This progress promises enhanced opportunities for cross-border investments and tourism, potentially fostering closer economic ties with neighboring countries.
The Kepri Islands have shown a commendable economic rebound in Q3 2023, marking a growth of 4.88 percent and outperforming pre-pandemic statistics. This progress, driven by the construction and trade sectors, signifies Kepri’s rising importance in the regional economy and offers a positive outlook for future investments and tourism activities.
