Supported by Rising Commodity Prices, Bengkulu's Economy Grew 2.47% in the Third Quarter of 2021

Bengkulu's economy, based on the Gross Regional Domestic Product (GRDP) at current prices, reached Rp 19.88 trillion in the third quarter of 2021. Based on the 2010 constant price GRDP, Bengkulu's economy grew by 2.47% to Rp 11.89 trillion in the third quarter of 2021 compared to the third quarter of 2020 (year-on-year/yoy).

Similarly, cumulatively from January to September 2021, Bengkulu's economy grew by 2.36% compared to the same period the previous year (cumulative-to-cumulative/c-to-c).

Prices of plantation commodities such as rubber, palm oil, pepper, and coffee supported the GRDP of this West Sumatran province. The increase in coal prices and ongoing infrastructure projects also contributed to driving Bengkulu's economy.

From the perspective of economic sectors, the growth of the agricultural sector by 3.12% (yoy) and the wholesale and retail trade sector by 6.34% were the main drivers of Bengkulu's economy during the July-September 2021 period.

From the expenditure side, the growth of household consumption by 0.58% (yoy), gross fixed capital formation (GFCF) by 0.55% (yoy), and exports of goods and services by 15.98% (yoy) supported Bengkulu's GRDP in the third quarter of this year.

At the beginning of the Covid-19 pandemic, Bengkulu's economy experienced a contraction for four consecutive quarters, starting from the second quarter of 2020 to the first quarter of 2021. Restrictions on social activities paralyzed the economy in the province. However, starting in the second quarter of this year, it began to show positive growth.