Manokwari – The Central Bureau of Statistics (BPS) noted that West Papua’s economic growth in 2023 grew by 3.91 percent. This achievement shows a strengthening and improvement in economic performance compared to the condition in 2022 which grew by 2.01 percent. In detail, BPS recorded the distribution and growth of Gross Regional Domestic Product (GRDP), both by business field and by expenditure.
Most business fields grew, with the highest growth occurring in the Financial and Insurance Services sector at 10.54 percent. Meanwhile, contraction occurred in two business sectors, namely Construction by 11.07 percent and Agriculture by 0.96 percent.
BPS data also showed that most expenditure components grew, except Gross Fixed Capital Formation which contracted by 15.04 percent. The highest growth in the expenditure component occurred in Government Consumption which reached 13.88 percent.
Meanwhile, West Papua’s economy in the fourth quarter of 2023 against the fourth quarter of 2022, wrote BPS, experienced a growth of 5.89 percent (y-on-y). Meanwhile, in the fourth quarter of 2023 against the third quarter of 2023, West Papua’s economic growth was 3.19 percent.
“The highest source of growth is contributed by the processing industry business field,” he said. He explained that during 2023 most business fields experienced positive growth, namely financial services and insurance 10.54 percent, processing industry 9.16 percent, accommodation and eating and drinking 7.67 percent.
Then, corporate services 6.51 percent, trade 6.45 percent, government administration 5.80 percent, mining and quarrying 4.83 percent, real estate 3.87 percent, transportation 3.55 percent, and other business fields.
“The only business field that contracted was construction at 11.07 percent due to the completion of the Tangguh LNG train 3 project, and agriculture contracted 0.96 percent,” said Merry.
From the expenditure side, said Merry, the export component of goods and services experienced the highest growth of 28.13 percent followed by government consumption of 12.87 percent, LNPRT consumption of 9.38 percent, and household consumption of 2.72 percent.
The increase in West Papua’s export performance was influenced by high domestic and foreign demand for goods and services commodities that helped boost the economy.