Lampung’s economy shows improvement: Bank Indonesia

Bank Indonesia Representative Office in Lampung Province said the province’s economy began to show signs of improvement at the end of 2020.

Lampung’s economy has contracted due to the COVID-19 pandemic. However, it began to show  signs of improvement at the end of the year,” said Head of Lampung Province BI Representative Budiharto Setyawan here on Saturday.

He said Lampung’s economy in 2020 contracted by minus 1.67 percent compared to the previous year.

The economic growth  was lower than that of  Sumatra, which was recorded at minus 1.19 percent compared to the year before, although it was better than the national economy which was recorded at minus 2.07 percent compared to a year earlier.

Setyawan explained that the improvement at the end of the year was supported by exports in line with the economic recovery of  the Lampung’s main trading partners, especially the United States, China and India.

The realization spatially puts Lampung’s economy in eighth place out of 10 provinces in Sumatra in 2020.

Nominally, Lampung’s economy in 2020 at the prevailing price (ADHB) and at constant prices (ADHK) (in 2010) were IDR 354.63 trillion and IDR 240.31 trillion respectively.

Annually, the development of Lampung’s non-oil and gas exports in the first quarter of 2021 based on January 2021 data experienced a growth of 46.87 percent compared to the same period in the previous year, higher than the performance of the previous quarter which grew 32.08 percent compared to the same period in the previous year.

Such condition is in line with demand from major trading partner countries which continues to improve and is on an increasing trend after reopening due to the COVID-19 pandemic.

 

Source: Antara News

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