Bali's Top Contributing Sectors to the Economy in the Third Quarter of 2022

Bali has been in the global spotlight following the G20 Summit. Leaders from major countries, including US President Joe Biden, Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, and British Prime Minister Rishi Sunak, attended the event on the "Island of Gods."

The G20 Summit is expected to be a catalyst for the revival of Bali's economy, which experienced a significant contraction during the Covid-19 pandemic. As is well known, the island's economy heavily relies on the tourism industry.

The Central Statistics Agency (BPS) reported that Bali's Gross Regional Domestic Product (GRDP), measured at current prices, reached Rp62.5 trillion in the third quarter of 2022.

Of this amount, Rp11.53 trillion (18.43%) of Bali's GRDP came from the accommodation and food service sector. This is the largest contribution compared to other sectors.

The next largest contributing sector was agriculture, reaching Rp9.26 trillion (14.81%), followed by construction at Rp6.99 trillion (11.18%), and wholesale and retail trade at Rp5.84 trillion (9.28%).

The sectors with the smallest contribution to Bali's economy were water supply and waste management, at only Rp121.94 billion (0.19%); followed by electricity and gas supply at Rp143.59 billion (0.23%), and mining and quarrying at Rp584.49 billion (0.93%).

The transportation and accommodation sectors recorded the highest annual growth in the third quarter of 2022. Meanwhile, the education, information and communication, and government administration sectors experienced contraction.

Here is a breakdown of the annual growth of Bali's GRDP by sector:

* Transportation and Warehousing: 35.37% (yoy)
* Accommodation and Food Services: 25.69% (yoy)
* Electricity and Gas Supply: 22.46% (yoy)
* Business Services: 13.89% (yoy)
* Other Services: 13.55% (yoy)
* Water Supply, Waste Management, Waste and Recycling: 11.5% (yoy)
* Financial and Insurance Services: 9.64% (yoy)
* Wholesale and Retail Trade: 8.2% (yoy)
* Total GRDP: 8.09% (yoy)
* Construction: 7.63% (yoy)
* Agriculture, Forestry, and Fisheries: 2.44% (yoy)
* Real Estate: 2.21% (yoy)
* Mining and Quarrying: 2.18% (yoy)
* Manufacturing Industry: 2.01% (yoy)
* Health Services and Social Activities: 1.65% (yoy)
* Government Administration, Defense and Mandatory Social Security: -0.18% (yoy)
* Information and Communication: -0.77% (yoy)
* Education Services: -4.75% (yoy)