West Papuan Economy in the First Quarter of 2022

goodmorningpapua.com – The Central Statistics Agency (BPS) of West Papua reported that economic conditions in the region in the first quarter of 2022 had a contraction or minus 1.01 percent year on year (yoy) compared to the same period the previous year.

A Head of West Papua BPS Maritje Pattiwaellapia said the cause of the contraction of economic growth in West Papua was triggered by the declining performance of several business sectors that support the local economy.

Several business sectors with negative growth in West Papua, such as the manufacturing industry -2.32 percent, mining and quarrying -4.31 percent, construction -2.03 percent, and the government administration business sector and mandatory social security -0.12 percent.

Apart from these several sectors, it actually experienced positive growth.

In addition to these factors, the slow pace of economic growth in West Papua is influenced by the decline in foreign export performance by 33.14 percent and gross fixed capital formation (PMTB) by 13.40 percent.

“Foreign imports contracted by 43.32 percent. The role of imports in GRDP according to expenditure is as a deduction, so that it is interpreted positively for the preparation of GRDP,” he explained.

When compared to economic conditions in the fourth quarter of 2021, West Papua’s economic conditions are now also experiencing a 1.96 percent contraction.

Meanwhile, in terms of business fields, BPS West Papua recorded almost all of them experiencing a decline in performance, including the processing industry by -1.62 percent, mining and quarrying by -2.46 percent, construction by -2.71 percent, agriculture and fisheries by 1 .92 percent and government administration and mandatory social security business fields of -7.78 percent.

Several business fields with positive growth performance are financial services and insurance, wholesale and retail trade, car repair, transportation and warehousing, and real estate.

From the expenditure side, contraction occurred in most of the components that make up GRDP by expenditure. The deepest contraction was contributed by PMTB around 44.53 percent, government consumption -38.62 percent and foreign exports -34.58 percent.

“Foreign imports also contracted by 84.84 percent,” he said.

West Papua’s economy is measured based on the amount of Gross Regional Domestic Product (GDP) at current prices reaching IDR 2,889.5 billion. Meanwhile, GRDP at constant prices reached IDR 1,542.5 billion.

The economy of West Papua in the first quarter of 2022 contributed up to 18.19 percent to the economy in the Maluku and Papua region including four provinces, namely Maluku, North Maluku, Papua and West Papua.

The contribution of Maluku and Papua to the Indonesian economy in the first quarter of 2022 was only 2.58 percent.

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