Agriculture and Trade Sectors Support Gorontalo's Economy in Q3 2021

Gorontalo's economy, based on the nominal Gross Regional Domestic Product (GRDP), reached Rp 11.2 trillion in the third quarter of 2021. Measured by the 2010 constant price GRDP, Gorontalo's economy grew by 3.04% to Rp 7.39 trillion in the third quarter of 2021 compared to the third quarter of 2020 (year-on-year/yoy).

The growth of the agricultural sector by 1.52% (yoy) and the wholesale and retail trade sector by 9.37% (yoy) were the main drivers of Gorontalo's economy during July-September 2021. The agricultural sector contributed 39.34% and the trade sector contributed 12.49% to the province's GRDP.

From the expenditure side, the growth of household consumption by 0.45% (yoy), gross capital formation (GCF) by 1.73% (yoy), and exports of goods and services by 18.43% boosted Gorontalo's economy in the third quarter of this year.

Gorontalo is the province with the smallest economy in Sulawesi. Its GRDP contribution was only 3.74% of Sulawesi's total GRDP in the third quarter of 2021. South Sulawesi had the largest economy in Sulawesi, contributing 47.47%.

During the Covid-19 pandemic, Gorontalo's economy experienced consecutive contractions for four quarters, starting from the second quarter of 2020 to the first quarter of 2021. Its GRDP even contracted as deep as 3.56% (yoy) in the fourth quarter of 2020. The implementation of social restrictions to curb the spread of the coronavirus paralyzed almost all sectors.