Economic growth doesn't have direct impact on community: BPS

People in Ternate have not enjoyed the entire benefits of growth in the economy.

REPUBLIKA.CO.ID, TERNATE -- North Maluku's economic growth of 7.92 percent in 2018 did not have a direct impact on the community. A decline in the agricultural sector contributed to the condition, according to the North Maluku Central Statistics Agency (BPS).

Head of the province's statistic agency Misfaruddin stated in Ternate on Thursday that despite the mining sector having experienced growth, for the agricultural sector, based on the amount of gross regional domestic product, the current price reached Rp36,497.6 billion and the constant price, Rp25,050.1 billion.

In fact, North Maluku's economy grew 7.92 percent in 2018, higher than 7.67 percent recorded in 2017. Moreover, in terms of production, growth was driven by all business fields, with the manufacturing industry growing by 18.22 percent, while the highest growth was achieved by the component of foreign exports that grew by 114.1 percent.

According to Misfaruddin, the province's economy in the fourth quarter of 2018, as compared to the fourth quarter of 2017 (year-on-year), grew by 8.25 percent. In terms of production, growth was driven by all business sectors, with the highest growth being achieved by the large trade and retail business field, at 13.91 percent.

Meanwhile, when viewed from the expenditure side, the highest growth was recorded in the component of foreign exports that grew by 70.1 percent.

"Our current economic growth is very high, but some sectors, such as agriculture, which are pushing, are not stable, so people have not enjoyed the entire benefits of growth in the economy," Misfaruddin noted.

He admitted that North Maluku's economy in the fourth quarter of 2018 increased as compared to the previous quarter (quarter-to-quarter), which grew 2.02 percent. In terms of production, the highest growth was recorded in the trading business field.

"The large and retail trade sector grew at 6.66 percent, and from the expenditure side, an increase of 37.6 percent was recorded in the government's consumption expenditure component," he added.

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