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Jambi Province's economy in 2023 will grow 4.66 percent

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Release Date	:	February 5, 2024
File Size	:	2.11 MB

Abstract

The economy of Jambi Province in 2023 as measured by Gross Regional Domestic Product (GRDP) at current prices reached IDR 293.73 trillion and GDP per capita reached IDR 79.8 million or US$ 5,239.4. Jambi's economy in 2023 grew by 4.66 percent, slowing down from 2022 which will grow by 5.12 percent. In terms of production, the highest growth occurred in the Corporate Services Business Field at 16.84 percent. Meanwhile, in terms of expenditure, the highest growth was achieved by the Consumption Expenditure Component of Non-Profit Institutions serving Households at 10.31 percent. Jambi's economy in the fourth quarter of 2023 compared to the fourth quarter of 2022 experienced growth of 4.03 percent (y-on-y). In terms of production, the Company Services Business Field experienced the highest growth of 21.15 percent. In terms of expenditure, the Consumption Expenditure Component of Non-Profit Institutions serving Households experienced the highest growth of 21.10 percent. Jambi Province's economy in the fourth quarter of 2023 experienced a contraction of 1.00 percent (q-to-q) compared to the previous quarter. In terms of production, the Government Administration, Defense and Mandatory Social Security business fields experienced the highest growth of 26.10 percent. Meanwhile, in terms of expenditure, the Government Consumption Expenditure Component experienced the highest growth of 73.00 percent. The economic structure of Jambi Province in 2023 is dominated by Agriculture, Forestry and Fisheries Business Fields which provide the largest contribution

to GRDP of 31.83 percent. Meanwhile, on the expenditure side, GRDP is mostly used by the Goods and Services Export Component at 64.11 percent.

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