Friday, September 15, 2017

Lampung Province’s Economic Growth in 2016 and 2017

By on 2:27 AM

Photo Credit: Saibumi

Lampung Province’s Economic Growth in 2016 and 2017

In the midst of domestic economic consolidation and the slow global economic recovery, Lampung’s economy at the fourth quarter of 2016 was still able to grow a little above 5%, particularly due to investment acceleration and export improvement. For the entire 2016, Lampung’s economy also still recorded relatively high growth of 5.15%, which was still higher compared to the growth of National Economic Growth (5.02%). Last year the growth was 5.13% still better than the said National Economic Growth.  Spatially, Lampung is the Province with the fourth highest economic growth in Sumatera.

From the view point of expenditure, source of Lampung’s economic growth has not changed much: It still rests on household consumption. However, what differs in the growth is that at the end of the year, investment performance increased twice as much as that in the previous year. In line with investment improvement, export performance has also improved although it is still in negative growth. Sectorally, the structure of Lampung’s economic growth in 2016 was still supported with 3 main sectors: Agriculture, Processing Industry, and Trade.

Entering the first quarter of 2017, Lampung’s economy was expected to grow well supported by improved performance of household consumption and investment as well as export. Sectorally, the increase in performance of agricultural sector and construction were expected to act as stimuli to Lampung economic growth in the first quarter of 2017. 


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