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DIY Economic Growth Q3 2024

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Release Date	:	December 11, 2024
File Size	:	3.29 MB

Abstract

The economy of the Special Region of Yogyakarta (DIY) based on the Gross Regional Domestic Product (GRDP) at current prices in the third quarter of 2024 reached IDR 48.64 trillion and at constant prices in 2010 reached IDR 31.03 trillion. The DIY economy in the third quarter of 2024 compared to the third quarter of 2023 grew by 5.05 percent (y-on-y). The highest growth was achieved by the Electricity and Gas Supply Business Field at 12.76 percent, followed by Mining and Quarrying, and Construction, each at 10.33 percent and 8.84 percent. In terms of expenditure, the highest growth was achieved by the Gross Fixed Capital Formation (PMTB) component at 8.97 percent, followed by Non-Profit Institution Consumption expenditure serving Households (PKLNPRT) at 7.96 percent, and Government Consumption Expenditure (PKP) at 5.05 percent. In the second quarter of 2024, the DIY economy grew by 0.31 percent (q-to-q). The business sector with the highest growth was Construction at 10.99 percent, followed by Mining and Quarrying at 7.95 percent, and education services at 4.36 percent. In terms of expenditure, positive growth was achieved by the PMTB component at 5.87 percent. Meanwhile, the Government Consumption Expenditure component experienced the deepest contraction of 3.34 percent. The DIY economic structure in the third quarter of 2024 was dominated by the Manufacturing Industry Business Sector at 11.72 percent, Agriculture, Forestry, and Fisheries at 10.21 percent, and Provision of Accommodation and Food and Beverage at 10.00 percent. Meanwhile, in terms of expenditure, the Household Consumption Expenditure Component still dominates with a contribution of 61.01 percent, followed by Gross Fixed Capital Formation at 35.30 percent, and Government Consumption Expenditure at 13.36 percent.

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