The 2023 nominal Gross Regional Domestic Product (GRDP) of Magetan Regency was recorded at Rp22.92 trillion. This represents a 4.47% growth compared to the previous year's Rp21.19 trillion.
Compared to the COVID-19 pandemic period in 2020, the economic growth in this region is significantly higher. At the end of 2020, post-COVID, growth was recorded at a decrease of 1.64%.
According to BPS (Statistics Indonesia) publications, with a total population of 691,620, the GRDP per capita in this region is recorded at Rp33,630,000/capita/year. Nationally, this ranks 362nd.
Of the 17 sectors driving the economy in this regency, the agriculture, forestry, and fisheries sector is the leading contributor.
In 2023, the agriculture, forestry, and fisheries sector in Magetan Regency recorded a value of Rp6.49 trillion. This is the highest among the 17 sectors. However, this sector experienced a -0.54% growth compared to the previous year's Rp6.17 trillion.
Following this, the wholesale and retail trade, repair of motor vehicles and motorcycles sector grew by 5.62% to Rp3.77 trillion, while the manufacturing industry sector ranked third with a GRDP of Rp2.8 trillion (8.92% growth).
Rounding out the top five contributing sectors is the public administration, defense, and compulsory social security sector with a GRDP of Rp1.62 trillion. This sector showed a growth of 0.09% compared to the previous year's Rp1.55 trillion.
Distribution of GRDP in Magetan Regency in 2023
In terms of distribution, the main sector contributing the most to GRDP growth in Magetan Regency is agriculture, forestry, and fisheries, with a contribution of 24.46%. Other sectors in the top five include wholesale and retail trade, repair of motor vehicles and motorcycles; the manufacturing industry; information and communication; and construction.
Sectors with the smallest distribution include Real Estate; Health and Social Services; Business Services; Water Supply; Waste Management, Waste and Recycling; and Electricity and Gas Supply.