West Nusa Tenggara's Economy Grew by 2.3% in 2021

West Nusa Tenggara (NTB)'s economy, measured by its Gross Regional Domestic Product (GRDP) at current prices, reached Rp140.15 trillion in 2021. This represents only 0.83% of the total GRDP of Indonesia's 34 provinces.

Measured by GRDP at constant 2010 prices, NTB's economy grew by 2.3% in 2021 compared to the previous year.

This achievement is better than 2020, which experienced a contraction of 0.62%, but still below the national economic growth rate of 3.69% in 2021.

From the perspective of economic sectors, agriculture remains the largest contributor to NTB's economy, accounting for 22.8% of the GRDP. This is followed by mining and quarrying at 17.33%, and wholesale and retail trade at 13.98%.

The construction sector recorded the highest growth at 8.94% in 2021 compared to the previous year. This was followed by the health and social services sector at 7.87%, and the electricity and gas supply sector at 7.73%.

From the expenditure side, household consumption supported NTB's GRDP throughout last year, contributing 60.74%. This was followed by gross fixed capital formation (GFCF) at 37.83%, and government consumption at 15.15%.

Household consumption expenditure grew by 1.79% in 2021 compared to the previous year. Meanwhile, GFCF grew by 3.81%.