NTB Economy Grew 2.42% in the Third Quarter of 2021

West Nusa Tenggara (NTB)'s economy, based on the current price Gross Regional Domestic Product (GRDP), reached Rp 35.75 trillion in the third quarter of 2021. Meanwhile, based on the 2010 constant price GRDP, NTB's economy grew by 2.42% to Rp 24.33 trillion in the third quarter of 2021 compared to the third quarter of 2020 (year-on-year/yoy).

The growth of the agricultural sector (0.58% yoy), the construction sector (14.82% yoy), and the wholesale and retail trade sector (1.28% yoy) supported NTB's economy during the July-September 2021 period.

The agriculture and livestock sector contributed the most to NTB's GRDP, namely 23.39% in the third quarter of this year. Meanwhile, the construction sector contributed 10.33% and the wholesale and retail trade sector contributed 13.92% to NTB's economy.

From the expenditure side, the growth of household consumption (3.49% yoy), gross fixed capital formation (GFCF) (7.42% yoy), and exports of goods and services (83.96% yoy) fueled the province's GRDP.

Household consumption contributed the most to NTB's economy from the expenditure side during the July-September 2021 period, reaching 58.85%. This was followed by GFCF, which contributed 37.79% to the total GRDP.