West Sulawesi's economic growth as measured by the increase in Gross Regional Domestic Product (GRDP) based on constant prices reached 2.64 percent compared to the first quarter of 2013 (q to q). When compared with the same quarter of 2012, the economy of West Sulawesi experienced a growth of 10.02 percent (y on y). While cumulatively (c to c), economic growth in West Sulawesi in the first semester of 2013 compared to the first semester of 2012 grew by 8.81 percent.
The magnitude of West Sulawesi's GRDP in the second quarter of 2013 on the basis of current prices reached 4,048.91 billion rupiahs while on the basis of constant 2000 prices it reached 1,555.12 billion rupiahs.
The three sectors with the highest growth (q to q) are the construction sector 15.33 percent; the electricity, gas and water supply sector 14.87 percent and the financial, rental and business services sector 8.47 percent. The main sources of growth in q to q are the trade, hotel and restaurant sector 0.71 percent; the building sector 0.53 percent and the financial, rental and business services sector 0.51 percent.
If based on y on y, the highest growth was the electricity, gas and clean water sector by 16.28 percent, followed by the services sector 13.58 percent, and the trade, hotel and restaurant sector 12.74 percent. While the lowest growth was in the mining and quarrying sector at 3.83 percent.
While on a c to c (semester) basis, the highest growth was held by the services sector by 15.36 percent, followed by the mining and quarrying sector by 11.96 percent. However, in this condition, the source of growth was driven by contributions from the agricultural sector by 3.00 percent; the services sector 2.33 percent and the hotel and restaurant trade sector 1.37 percent.
From the usage side, it can be seen that West Sulawesi's GRDP is largely absorbed for consumption purposes. In the second quarter of 2013 the household consumption component absorbed added value up to 62.17 percent, and government consumption amounted to 26.33 percent. Exports of goods and services contributed 17.99 percent while imports accounted for 20.99 percent of West Sulawesi's total GRDP.
Q to q GRDP growth according to usage, it appears that the PMTB component has the highest growth, namely 13.17 percent, followed by imports of goods and services by 5.22 percent and government consumption 3.32 percent. While the highest growth in exports was the components of goods and services exports at 13.09 percent, followed by PMTB at 9.49 percent and government consumption at 5.72 percent.
Meanwhile, the trade balance of West Sulawesi in the second quarter of 2013 experienced a deficit of 121.84 billion rupiah. This condition improved from the previous quarter which amounted to 138.52 billion rupiah.
When compared with other provinces, economic growth in West Sulawesi is ranked second fastest (c to c) after Central Sulawesi whose growth reached 11.03 percent. Even the economic growth of West Sulawesi is still relatively above the national economic growth of 5.92 percent (c to c).
