South Sumatra's Economy Grew by 3.58% in 2021

South Sumatra's economy, measured by Gross Regional Domestic Product (GRDP) at current prices, reached Rp 491.57 trillion in 2021. South Sumatra's GRDP contributed 13.36% to the Sumatran regional economy.

Measured by GRDP at constant 2010 prices, South Sumatra's economy grew by 3.58% to Rp 326.41 trillion last year compared to the previous year.

This achievement is better than the previous year, which experienced a 0.11% contraction. However, it is lower than the growth in 2019, which was above 5%, and below the national economic growth of 3.69%.

From the business sector perspective, the mining and quarrying sector remained the largest contributor to South Sumatra's economy, with a contribution of 21.09% in the fourth quarter of 2021. This was followed by the manufacturing industry with a contribution of 19.41%, and the agricultural sector with 13.89%.

The education services sector recorded the highest growth, at 6.57% throughout last year compared to the previous year. This was followed by the information and communication sector at 6.04%, and the real estate sector at 5.81%.

From the expenditure side, household consumption expenditure was the main driver of South Sumatra's GRDP, contributing 62.56% in the fourth quarter of 2021. This was followed by gross fixed capital formation (GFCF) at 32.36%, and foreign exports at 19.3%.

Foreign exports recorded the highest growth, reaching 24.04% (after deducting imports of 19.03%) last year. Government expenditure grew by 2.9%, and household consumption expenditure grew by 1.94%.