West Sulawesi's Economic Growth in 2023 Reaches 5.25 Percent Despite Facing Contraction

Mamuju - The West Sulawesi Central Statistics Agency (BPS) reported the results of West Sulawesi's economic growth for the fourth quarter of 2023 at a press conference held in the West Sulawesi Province BPS Hall. Head of BPS West Sulawesi, Tina Wahyufitri, presented the latest data regarding economic growth and the structure of West Sulawesi's GRDP (05/02).

The year 2023 marks West Sulawesi's economic growth of 5.25 percent cumulative to cumulative (c-to-c). In the fourth quarter of 2023, growth reached 4.44 percent (year-on-year), while there was a contraction of -1.20 percent (quarter-to-quarter).

Tina Wahyufitri explained, "West Sulawesi's economy in 2023 experienced positive growth of 5.25 percent compared to the previous year. However, in the fourth quarter of 2023, there was a contraction of -1.20 percent compared to the previous quarter."

West Sulawesi's economic growth in 2023 will be driven by the agriculture, fisheries and forestry sectors, which contribute growth of 1.68 points to the total c-to-c growth. The processing industry category also made a significant contribution with growth of 14.46 percent.

Even though West Sulawesi occupies sixth position out of fourteen provinces in the Sulampua Region, the highest economic growth in 2023 will occur in North Maluku with growth of 20.49 percent, followed by Central Sulawesi with 11.91 percent.

In the GRDP structure of West Sulawesi, the agriculture, forestry and fisheries sectors continue to dominate with 44.72 percent, followed by the processing industry (11.16 percent), wholesale and retail trade (9.94 percent), and construction (7.34 percent ).

Regarding economic growth in the fourth quarter of 2023, Tina Wahyufitri added, "Even though there was a contraction in the fourth quarter of 2023, several business categories are still experiencing growth, such as mining and quarrying, construction, and government administration."

In terms of expenditure, West Sulawesi's economic growth in 2023 will be 5.25 percent. The consumption expenditure component of non-profit institutions serving households (PKLNPRT) grew 8.21 percent, while imports experienced a contraction of -0.18 percent.

The West Sulawesi economy is listed as one of the contributors to economic growth in the Sulampua Region. Even though growth in West Sulawesi is not as big as North Maluku or Central Sulawesi, the success in achieving growth of 5.25 percent shows the resilience of the regional economy.