Growing by 5.53% in 2021, Yogyakarta's Economy Outperforms the National Economy

The Central Statistics Agency (BPS) reports that the economy of the Special Region (DI) of Yogyakarta, based on the current price Gross Regional Domestic Product (GRDP), reached Rp 149.37 trillion in 2021. This figure represents only 0.88% of the national GDP, valued at Rp 16.97 quadrillion.

Measured based on the 2010 constant price GRDP, Yogyakarta's economy grew by 5.53% to Rp 107.31 trillion in 2021 from the previous year. This achievement is better than the previous year, which experienced a 2.68% contraction. This also surpasses the national GDP growth of 3.69% in the previous year.

From the perspective of business sectors, the manufacturing industry remained the largest contributor to Yogyakarta's economy, contributing 12.36% to the GRDP last year. This was followed by the information and communication sector with a 10.72% contribution, and the construction sector with 10.14%.

The information and communication sector contributed 2.3% to the growth of Yogyakarta's GRDP in 2021. This was followed by the construction sector at 1.03%, and the accommodation and food service sector at 0.63%.

From the expenditure side, household consumption contributed 64.32% to the GRDP of the province led by Governor Sri Sultan Hamengku Buwono X. This was followed by gross fixed capital formation (GFCF) at 32.83%, and government consumption at 14.45%.

GFCF contributed the most to the growth of Yogyakarta's GRDP, reaching 2.1% last year. This was followed by household consumption at 1.01%, and exports of goods and services at 1.01%.