North Maluku, Province with the Highest Economic Growth Throughout 2023

Based on a report by the Central Statistics Agency (BPS), North Maluku had the highest economic growth in 2023. Its growth reached 20.49% year-on-year (yoy).

Closely behind North Maluku is Central Sulawesi, with economic growth of 11.91% (yoy).

“Industrialization, or what we call the nickel downstreaming program, in these two provinces has had a significant impact on economic growth,” said Amalia Adininggar Widyasanti, Acting Head of BPS, as reported by Antara on Monday (5/2/2024).

According to Amalia, the processing industry, mining and quarrying, and trade are the three main sectors driving growth in the Sulawesi, Maluku, and Papua regions.

Amalia continued, specifically for Central Sulawesi and North Maluku, the processed mining industry, especially ferronickel, is the largest source of economic activity in both provinces.

East Kalimantan is ranked third with economic growth of 6.22% (yoy), followed by Central Papua and Bali, as shown in the graph above.

Meanwhile, the province with the lowest economic growth last year was West Nusa Tenggara, at only 1.8% (yoy), followed by Southwest Papua and East Nusa Tenggara.

Here are the 10 provinces with the highest economic growth in 2023:

1. North Maluku: 20.49% (yoy)
2. Central Sulawesi: 11.91% (yoy)
3. East Kalimantan: 6.22% (yoy)
4. Central Papua: 5.95% (yoy)
5. Bali: 5.71% (yoy)
6. North Sulawesi: 5.48% (yoy)
7. Southeast Sulawesi: 5.35% (yoy)
8. West Sulawesi: 5.25% (yoy)
9. Maluku: 5.21% (yoy)
10. Riau Islands: 5.2% (yoy)

Here are the 10 provinces with the lowest economic growth in 2023:

1. West Nusa Tenggara: 1.8% (yoy)
2. Southwest Papua: 1.82% (yoy)
3. East Nusa Tenggara: 3.52% (yoy)
4. Central Kalimantan: 4.14% (yoy)
5. Papua: 4.2% (yoy)
6. Riau: 4.21% (yoy)
7. Aceh: 4.23% (yoy)
8. Bengkulu: 4.26% (yoy)
9. South Papua: 4.27% (yoy)
10. Bangka Belitung Islands: 4.38% (yoy)

The BPS reported that Indonesia's economic growth throughout 2023 was 5.05% cumulatively (cumulative-to-cumulative/ctc). However, last year's economic growth slowed compared to 2022, which was 5.31% (ctc).