Sumatera Utara's economy grew 5.10 percent in Q4-2024 (y-on-y)

Release Date	:	February 6, 2025
File Size	:	1.8 MB

Abstract

The economy of Sumatera Utara based on the amount of Gross Regional Domestic Product (GRDP) in Quarter IV-2024 at current prices reached IDR 295.72 trillion and at constant 2010 prices reached IDR 161.55 trillion.
The economy of Sumatera Utara in 2024 grew by 5.03 percent (c-to-c) higher than the achievement in 2023 which grew by 5.01 percent. In terms of production, the highest growth occurred in the Accommodation and Food and Beverage Provision Business Field of 11.98 percent. In terms of expenditure, the highest growth was in the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) of 11.79 percent.
The economy of Sumatera Utara in Quarter IV-2024 compared to Quarter IV-2023 experienced a growth of 5.10 percent (y-on-y). In terms of production, the Accommodation and Food and Beverage Provision Business Field experienced the highest growth of 13.74 percent. Meanwhile, in terms of expenditure, the Export of Goods and Services component experienced the highest growth of 12.62 percent.
The economy of Sumatera Utara in Quarter IV-2024 compared to Quarter III-2024 experienced growth of 0.44 percent (q-to-q). In terms of production, the highest growth was in the Government Administration, Defense and Compulsory Social Security Business Sector at 10.41 percent. In terms of expenditure, the Government Consumption Expenditure Component was the component with the highest growth of 13.02 percent.
The economic structure on the island of Sumatera spatially in 2024 is dominated by several large provinces. The top three include, Sumatera Utara Province contributing 23.55 percent; Riau Province at 22.84 percent; and South Sumatra Province contributing 13.63 percent. Meanwhile, the lowest contribution was Bengkulu Province with a contribution of 2.14 percent.

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Sumatera Utara's economy grew 5.10 percent in Q4-2024 (y-on-y)