North Sumatra's Economy Grew by 3.67% in the Third Quarter of 2021

North Sumatra's economy, based on the 2010 constant price Regional Gross Domestic Product (RGDP), reached Rp 138.81 trillion in the third quarter of 2021. This figure shows a 3.67% year-on-year (yoy) growth compared to the same period in the previous year.

Based on the current price RGDP, North Sumatra's economy was recorded at Rp 218.46 trillion in the third quarter of 2021. This represents a 7.2% increase compared to the Rp 203.81 trillion recorded in the third quarter of 2020.

By industry sector, North Sumatra's RGDP in the third quarter of this year was primarily driven by the agricultural sector, contributing 22.23%. The manufacturing industry contributed 19.38%, while wholesale and retail trade, and repair of motor vehicles and motorcycles contributed 19.14%.

Household consumption contributed 50.29% to North Sumatra's RGDP. Gross fixed capital formation (GFCF) contributed 30.4%.

The contribution of exports of goods and services, net of imports, was 9.9%. Government consumption expenditure contributed 6.95%. Changes in inventories and consumption of non-profit institutions serving households (NPISH) contributed 1.6% and 0.86%, respectively.