East Kalimantan's Economy Grew by 4.51% in the Third Quarter of 2021

East Kalimantan's (Kaltim) economy grew by 4.51% to Rp 122.24 trillion in the third quarter of 2021 compared to the same quarter of the previous year, according to the 2010 constant price Gross Regional Domestic Product (GRDP) figures.

Meanwhile, based on the current price GRDP, the province's economy reached Rp 179.09 trillion in the third quarter of 2021.

The growth of Kaltim's economy in the third quarter of this year was driven by rising commodity prices, such as palm oil and coal, and strengthening international market prices. Furthermore, increased agricultural productivity due to the harvest season also contributed to boosting the province's GRDP.

Kaltim's economic improvement was also supported by the performance of various business sectors, including the mining and quarrying sector which grew by 6.6% (year-on-year), the agriculture, forestry, and fisheries sector by 2.86% (year-on-year), and the manufacturing industry by 2.22% (year-on-year), all contributing to Kaltim's GRDP growth during the July-September 2021 period.

From the expenditure side, growth was seen in household consumption (0.12% year-on-year), gross fixed capital formation (9.25% year-on-year), and exports of goods and services (7.32% year-on-year), leading to Kaltim's economic recovery.

Kaltim's economy had experienced a contraction for four consecutive quarters, from the second quarter of 2020 to the first quarter of 2021. The implementation of community activity restrictions during the Covid-19 pandemic resulted in negative GRDP growth for Kaltim.