Lampung's Economy Grew 2.79% in 2021

The Central Statistics Agency (BPS) recorded that Lampung's economy, measured by Gross Regional Domestic Product (GRDP) at current prices, reached Rp371.9 trillion in 2021.

This figure is the highest compared to previous years, as shown in the graph.

Measured by GRDP at constant 2010 prices, Lampung's economy grew by 2.79% to Rp247 trillion in 2021 from the previous year. This achievement is better than 2020, which experienced a 1.16% contraction.

However, this growth is still lower than the national economic achievement, which grew by 3.69% in 2021, and lower than before the Covid-19 pandemic, where Lampung's economy was able to grow above 5%.

From the business sector perspective, the agricultural sector still contributed the most to Lampung's GRDP, with a share of 28.39% in 2021. This was followed by the manufacturing industry, contributing 19.65%, and wholesale and retail trade, contributing 11.7%.

The wholesale and retail trade sector recorded the highest growth, at 8.26% in 2021. This was followed by the construction sector, which grew by 6.95%, and the electricity and gas supply sector, which grew by 6.94%.

From the expenditure side, household consumption expenditure remained the main driver of Lampung's economy, contributing 61.84% in 2021. This was followed by gross fixed capital formation (GFCF) with a contribution of 33.78%.

GFCF recorded growth of 3.94% throughout 2021, while household consumption expenditure grew by 1.67%.