North Sulawesi's Economy Grew by 4.16% in 2021

North Sulawesi's economy, based on the nominal Gross Regional Domestic Product (GRDP), reached Rp142.6 trillion in 2021. This figure represents only 0.84% of the national GDP, which reached Rp16.97 quadrillion.

Measured by the 2010 constant price GRDP, North Sulawesi's economy grew by 4.16% to Rp91.79 trillion in 2021 compared to the previous year. This GRDP growth indicates a revival of business activities in the province.

This achievement is better than the previous year, which experienced a contraction of 0.99%. It also surpasses the national economic growth of 3.69% last year.

In terms of economic sectors, agriculture remains the mainstay of the economy in this province with Manado as its capital city. The agricultural sector contributed 21.08% to the GRDP, followed by the wholesale and retail trade sector at 13.09%, and the construction sector at 11.77%.

The construction sector was the highest source of growth for North Sulawesi's economy last year, at 0.89%. This was followed by the manufacturing sector at 0.89%, and wholesale and retail trade at 0.45%.

From the expenditure side, household consumption was the main driver of North Sulawesi's GRDP, contributing 42.67%. This was followed by gross fixed capital formation (GFCF) at 36.14%, and government consumption at 15.72%.

The largest source of GRDP growth in North Sulawesi came from GFCF, at 2.64%, followed by household consumption at 1.9%.