Banten's Economy Grew by 4.4% in 2021

The Central Statistics Agency (BPS) reports that Banten's economy, measured by its Gross Regional Domestic Product (GRDP) at current prices, reached Rp665.92 trillion in 2021, with a per capita GRDP of Rp55.21 million.

Measured by GRDP at constant 2010 prices, Banten's economy grew by 4.4% in 2021 to Rp460.74 trillion compared to the previous year.

In terms of economic sectors, the largest contributor to the provincial economy, led by Governor Wahid Halim, is the manufacturing sector, contributing 31.48%. This is followed by the wholesale and retail trade sector with a contribution of 12.9%, and the construction sector with 12.33%.

Throughout 2021, the electricity and gas supply sector in Banten recorded the highest growth, reaching 12.76%. This was followed by the construction sector, which grew by 10.81%, and the health and social services sector, which grew by 9.95%.

From the expenditure side, household consumption expenditure remains the main driver of Banten's GRDP, contributing 53.77%. This is followed by gross fixed capital formation (GFCF) at 34.52%, and net exports at 6.95%.

Banten's household expenditure component grew by 2.4% in 2021 compared to the previous year. The GFCF component grew by 3.87%, and the net export component grew by 33.28%.

(See also: Economy of Tangerang City, the Largest in Banten in 2020)