Iron and Steel Exports Increase, Southeast Sulawesi's Economy Grows 4.1% in 2021

Southeast Sulawesi's (Sulteng) economy, based on the 2010 constant price Regional Gross Domestic Product (PDRB), grew by 4.1% to Rp97.28 trillion last year compared to the previous year.

This achievement is better than the previous year, which experienced a contraction of 0.65%. This also surpasses last year's national economic growth, which was only 3.69%.

Meanwhile, Sulteng's economy, based on the current price Regional Gross Domestic Product (PDRB), reached Rp139.06 trillion in 2021. This value is equivalent to 0.82% of the national GDP, which reached Rp16.97 quadrillion.

The subsiding of the Covid-19 pandemic, the 58.43% growth in iron and steel exports in the fourth quarter of 2021, and the improvement in other economic activities resulted in Southeast Sulawesi's economy growing above 4% last year.

From a production standpoint, the agricultural sector supported Southeast Sulawesi's economy, contributing 23.8% to the PDRB. This was followed by the mining and quarrying sector with a 19.45% contribution, and the construction sector with 14.47%.

The construction sector recorded the highest growth, at 9.66% last year. This was followed by the wholesale and retail trade sector, which grew by 8.73%, and electricity and gas supply, which grew by 7.31%.

From an expenditure perspective, household consumption contributed the most to the province's PDRB (with Kendari as its capital city), at 45.05%. This was followed by gross fixed capital formation (PMTB) with a 40.24% contribution. Exports of goods and services contributed 59.89% to the PDRB (minus imports of goods and services of 62.26%).

The export component of goods and services grew by 16.73% last year, as did imports of goods and services, which grew by 15.87%. Meanwhile, the PMTB component grew by 6.06%, and the household consumption component grew by 1.87%.