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Economic Growth of DIY 4th quarter 2020

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Release Date	:	February 15, 2021
File Size	:	0.69 MB

Abstract

The economy of the Special Region of Yogyakarta (DIY) as measured by the value of Gross Regional Domestic Product (GRDP) at current prices in 2020 reached Rp138.4 trillion and at constant 2010 prices reached Rp101.7 trillion.
The DIY economy during 2020 contracted by 2.69 percent (c-to-c), in a different direction of growth compared to 2019 which grew by 6.59 percent. Sectorally, the contraction was mainly triggered by the transportation business field and the provision of accommodation and eating and drinking. Meanwhile, in terms of expenditure, all components contracted, including household consumption expenditure and gross fixed capital formation.
The DIY economy in the fourth quarter of 2020 against the fourth quarter of 2019 experienced a contraction of 0.68 percent (y-on-y). Most business fields contracted. However, some businesses were still a source of positive growth, including information and communication, health services, and agriculture. From the expenditure side, the components of household consumption, government consumption, gross fixed capital formation, exports and foreign imports all contracted.
Compared to the third quarter of 2020, the DIY economy grew by 3.18 percent (q-to-q). In terms of production, this was due to the seasonal effect of Yogyakarta as one of the main tourist destinations for the Christmas and year-end holidays. High-growth business fields were the provision of accommodation and eating and drinking, information and communication, and other services. From the expenditure side, it was mainly driven by the growth of government consumption and gross fixed capital formation.
DIY's economic structure in 2020 is dominated by the manufacturing industry, agriculture, forestry, and fisheries, and information and communication.

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