Lampung Economic Growth Quarter I-2024

Lampung’s economy in the first quarter of 2024 based on Gross Regional Domestic Product (GRDP) at current prices reached IDR112,091.01 billion and at constant prices (2010) reached IDR65,952.47 billion.

Lampung’s economy grew by 3.30 percent in the first quarter of 2024, compared to the first quarter in 2023 (y-on-y). From the production side, Public Administration and Defence, Compulsory Social Security experienced the highest growth at 14.23 percent. Meanwhile, on the expenditure side, Nonprofit Institutions Serving Households (NPISHs) Component experienced the highest growth at 19.13 percent.

Lampung’s economy in the first quarter of 2024 compared to the fourth quarter of 2023 contracted by 1.24 percent (q-to-q). From the production side, Electricity and Gas acitivities experienced the deepest contraction in growth at 12.57 percent. Meanwhile, on the expenditure side, Government Consumption Expenditure Component underwent the most substantial decline in growth, dropping by 37.50 percent.

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