Economic Growth of Daerah Istimewa Yogyakarta Quarter IV-2024

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Release Date	:	February 5, 2025
File Size	:	7.105137 MB

Abstract

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The economy of the Special Region of Yogyakarta in 2024, as measured by the Gross Regional Domestic Product (GRDP) at current prices, reached IDR 193.51 trillion, while at constant 2010 prices, it amounted to IDR 124.59 trillion.
In 2024, the economy of Yogyakarta grew by 5.03 percent, slightly lower than the 5.07 percent growth recorded in 2023. From the production perspective, the Electricity and Gas Supply sector experienced the highest growth at 10.67 percent. Meanwhile, from the expenditure perspective, the Non-Profit Institutions Serving Households (NPISH) Consumption component recorded the highest growth at 11.06 percent.
In the fourth quarter of 2024, the economy of Yogyakarta grew by 5.07 percent year-on-year (y-on-y) compared to the fourth quarter of 2023. From the production perspective, the Mining and Quarrying sector recorded the highest growth at 15.50 percent. Meanwhile, from the expenditure perspective, Gross Fixed Capital Formation (GFCF) registered the highest growth at 8.35 percent.
Quarter-on-quarter (q-to-q), the economy of Yogyakarta in the fourth quarter of 2024 grew by 2.92 percent compared to the previous quarter. From the production perspective, the highest growth occurred in the Accommodation and Food & Beverage Service sector, which expanded by 13.40 percent. From the expenditure perspective, the Government Consumption Expenditure (GCE) component recorded the highest growth at 32.36 percent.
The economic structure of Yogyakarta in 2024 was dominated by the Manufacturing Industry, Accommodation & Food & Beverage Service, and Agriculture, Forestry, and Fisheries sectors, contributing 11.83 percent, 10.59 percent, and 9.92 percent, respectively. Meanwhile, from the expenditure perspective, Household Consumption Expenditure remained dominant with a contribution of 61.88 percent, followed by Gross Fixed Capital Formation at 34.42 percent, and Government Consumption Expenditure at 14.57 percent.