Bali by the Numbers: Bali’s Economy: Sluggish Growth in Q3 2014
Bali’s economy grew 2.78% in Q3 of 2014 when compared to Q2 of the current year, measured on the basis of increases in the gross domestic product. As reported by Metrobali.com, Panusunan Siregar, head of the Bali Central Statistic Bureau, said on Wednesday, November 5, 2014, that growth in Bali’s economy is driven by high growth in selected sub-sectors.
During Q3 2014, Bali highest rate of growth occurred in the services sector, which grew at 8.05%. Meanwhile, the lowest rate of growth was recorded in the agricultural sector that grew by only 0.3%. When compared year-on-year to Q3 2013, Bali’s gross domestic product has grown 6.53%.
Year-on-year, the construction sector has grown 1.86% The nominal value of Bali’s gross domestic product in Q3 2014, when measured in constant year-2000 prices, reached Rp. 9.4 trillion. Seen from the demand side, consumer household spending and exports made the biggest contribution to Bali’s gross domestic product in Q3 2014.
A slowdown quarter-on-quarter in the economy in Q3 2014 is blamed on reduced consumption as measure by household expenditures, non-commercial household spending and government spending. Despite a somewhat slower Q3, year-on-year Bali’s economy has grown across all sectors with the exception of government expenditures and stocks inventories held.
source : bali discovery tours