Papua Excels in the Economic Growth Quarter III-2021

goodmorningpapua.com – The Central Statistics Agency (BPS) announced that the Indonesian economy grew 3.51% in the third quarter of 2021. Spatially, Papua is the province with the highest economic growth.

In July-September 2021, Papua’s Gross Regional Domestic Product (GDP) grew 14.54%. Under the Papua, there are North Maluku with 11.41% growth and Central Sulawesi with 10.21% growth. The characteristics of these provinces are rich in natural resources. For example, Papua has a lot of potential for metallic minerals such as copper, gold, and silver.

During the third quarter of 2021, the average copper price on the London Metal Exchange (LME) was US$ 9371.84/ton. Soaring with 43.76% compared to the average for the third quarter of 2020. The commodity price booms became a big theme in the world economy in the third quarter of 2021. Commodities undergo a super-cycle because last year demand extremely plummeted caused by the corona virus pandemic (Coronavirus Disease-2019/Covid-19).

Now the economy has started to rise, as there is an anti-coronavirus vaccine. The increase in manufacturing activity makes the demand for raw materials increase, so commodities are flooded with buyers.

This development has become ” the falling durian’ for the commodity-producing province. So it’s not surprising that Papua cs is the province with the highest economic growth in Greater Indonesia.

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When Papua and other resource-rich provinces take feast, what about the capital city of Jakarta? Well, unfortunately the province led by Governor Anies Rasyid Baswedan does not have natural resources to be proud of. Jakarta is a city of services, trade is a business field with the largest contribution to GRDP (15.27%).

In the third quarter of 2021, Jakarta’s GRDP is Rp 460.28 trillion. Only grew 2.43%, below the national achievement.

Jakarta cannot be proud because its economic growth is far below other provinces. Economic growth of 2.43% brought Jakarta to the 29th rank out of 34 provinces.

However, Jakarta is still the number one contributor to the national Gross Domestic Product (GDP). In the third quarter of 2021, Jakarta contributed 16.91% of the archipelago’s economy.

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