Bali's economy in the first quarter of 2024, measured based on Gross Regional Domestic Product (GRDP) at current prices (ADHB), was recorded at IDR 69.61 trillion or if measured at constant prices (ADHK 2010=100), Bali's GRDP was recorded at IDR 39. .72 trillion.
Bali's economy during the first quarter of 2024 contracted by 4.68 percent compared to the results in the fourth quarter of 2023 (q-to-q). Judging from the production side, the deepest contraction was recorded by the Government Administration, Defense and Mandatory Social Security Business Field at 14.99 percent. Meanwhile, in terms of expenditure, the Government Consumption Expenditure Component (PK-P) contracted by 45.59 percent.
When compared with the same period the previous year (y-on-y), Bali's economy in the first quarter of 2024 grew by 5.98 percent. Examined from the production side, the highest growth was recorded in the Financial Services and Insurance Business Field at 19.67 percent. Meanwhile, in terms of expenditure, the Non-Profit Institution Expenditure Component (Pk-LNPRT) grew by 80.93 percent.
Bali's economic structure in terms of production, in the first quarter of 2024 is still dominated by the Accommodation and Food and Drink Providing Business Field which contributes 20.64 percent. Meanwhile, in terms of expenditure, the largest contribution was recorded in the Household Consumption Component, namely 55.12 percent.
