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Economic Growth of DI Yogyakarta Quarter I 2024

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Release Date	:	May 6, 2024
File Size	:	5.04 MB

Abstract

Economic growth in DIY in Q1-2024 grew by 5.02 percent (Y-on-Y)
DIY economy in Q1-2024 grew by 0.91 percent (Q-to-Q)
The economy of the Special Region of Yogyakarta based on the size of Gross Regional Domestic Product (GRDP) at current prices in Q1-2023 reached IDR 47.89 trillion and at constant 2010 prices reached IDR 30.68 trillion.
DIY economy in Q1-2024 compared to Q1-2023 grew by 5.02 percent (y-on-y). The highest growth was achieved by the provision of electricity and gas at 16.26 percent, followed by the provision of accommodation and food and beverages at 12.58 percent, and government administration, defense and social security at 12.39 percent. In terms of expenditure, the highest growth was achieved by the component of consumption expenditure of non-profit institutions serving households (PKLNPRT) at 20.29 percent, followed by government consumption expenditure (PKP) at 10.06 percent.
Compared to the fourth quarter of 2023, the DIY economy grew by 0.91 percent (q-to-q). The business sectors with high growth were agriculture, forestry, and fisheries at 25.08 percent, followed by financial services and insurance at 5.14 percent and the processing industry at 3.73 percent. In terms of expenditure, it was mainly driven by the growth of the LNPRT consumption expenditure component at 8.86 percent, and exports of goods and services at 4.40 percent.
The structure of the DIY economy in the first quarter of 2024 was dominated by the processing industry business sector with a contribution of 12.07 percent, followed by agriculture, forestry, and fisheries at 10.87 percent, and the provision of accommodation and food and beverages at 10.41 percent. Meanwhile, from the expenditure side, household consumption expenditure still dominates with a contribution of 61.02 percent, followed by gross fixed capital formation of 32.14 percent, and government consumption expenditure of 13.10 percent.

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