The economy of the Bangka Belitung Islands in Q3 2020 contracted 4.38 percent against Q3 2019 (y-on-y)

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Release Date	:	November 5, 2020
File Size	:	1.66 MB

Abstract

The economy of the Bangka Belitung Islands in the third quarter of 2020 as measured by the Gross Regional Domestic Product (PDRB) at the current price (ADHB) reached IDR 18,603 billion and the GRDP at constant prices (ADHK) 2010 reached IDR 13,178 billion.

The economy of the Bangka Belitung Islands in quarter III-2020 compared to quarter III-2019 (y-on-y) experienced a contraction (negative growth) of 4.38 percent, down when compared to the achievement of quarter III-2019 which grew by 3.03 percent. From the production side, there were more business fields contracting than growing business fields. The business fields that experienced the deepest contraction were the Transportation and Warehousing Business Fields. Meanwhile, from the expenditure side, the largest contraction occurred in the component of Gross Fixed Capital Formation (PMTB).

The economy of the Bangka Belitung Islands in quarter III-2020 against the previous quarter (q-to-q) grew by 2.57 percent. From the production side, the highest growth was achieved by the Transportation and Warehousing business field of 12.90 percent, while from the expenditure side of the foreign export component, which grew by 27.58 percent.

Until the third quarter of 2020 (c-to-c) the economy of the Bangka Belitung Islands contracted by 2.74 percent. From the production side, the decline was due to the contraction that occurred in most business fields, with the deepest contraction occurring in the Transportation and Warehousing Business Fields. Meanwhile, from the expenditure side, the largest contraction was experienced by the foreign export component.

The Covid-19 pandemic that has spread to various countries has affected the economy on a local, national and global scale. Since the adoption of new habitual adaptations, people's economic activities have begun to improve, but when compared to 2019 conditions which are still in normal conditions, it has resulted in a contraction in the economy of the Bangka Belitung Islands in quarter III-2020.

The total GRDP of Sumatra Island ADHB in quarter III-2020 reached IDR 859,031 billion or around 21.53 percent of the total GRDP of 34 Provinces in Indonesia, while the GRDP of Sumatra Island ADHK in quarter III-2020 reached IDR 582,649 billion. The economic growth of Sumatra Island was 3.98 percent (q-to-q), -2.22 percent (y-on-y), and -0.75 percent (c-to-c). Meanwhile, the PDRB of Bangka Belitung Islands Province only contributed 2.17 percent to the GRDP of Sumatra Island and 0.47 percent to the total GRDP of 34 provinces in Indonesia.

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