BPS: North Maluku economy grew by 27.7 percent yoy in Q4 2024

Statistics Indonesia (BPS) North Maluku Province revealed that the North Maluku economy grew by 13.73 percent on a cumulative annual basis (c-to-c) in the fourth quarter (Q4) of 2024.

"Compared to Q4 2023, the North Maluku economy rose by 27.7 percent (year-on-year/yoy) in Q4 2024)," said Acting BPS North Maluku Head Nurhidayat Maskat said in an official statement onn Feb. 5, 2025.

The province's economy also grew by 25.73 percent quarter-to-quarter (qtq).

Growth occurred in all business sectors, with the electricity and gas procurement sector recording the most significant growth rate at 65.26 percent yoy growth. It was followed by the industrial manufacturing sector with 58.27 percent yoy growth, mining and quarrying with 33.33 percent yoy growth, as well as the agriculture, forestry, and fisheries sector with by 3.45 percent yoy growth.

"All business sectors grew (yoy) in Q4 2024. The business sectors with the largest contribution to the economy of North Maluku are the industrial manufacturing, mining, and agriculture sectors," explained Nurhidayat.