The Central Statistics Agency (BPS) noted that Bali's economic growth in the third quarter of 2022 reached 8.09% on an annual basis (year on year/yoy). Head of BPS Margo Yuwono said this figure continues to show improvement. Margo said that in the second quarter of 2022, Bali's economic growth was 3.05% and the first quarter of 2022 was 1.43%. This improvement is due to the hectic number of large or international activities being held in Bali. "The main source of growth in Bali comes from the provision of food and beverage accommodation as well as warehousing transportation," he said in a virtual press conference, Monday (7/11/2022).
He revealed, despite growing high, Bali's economy has not returned to the period before the COVID-19 pandemic. Indeed, Bali's economy is currently soaring because it had a negative experience in 2020 and 2021. "Only Bali has a GDP level in the first-third quarter of 2022 which is still below the same period in 2019. In the first-third quarter, the level is still below before the pandemic," he said. From BPS records, Bali's economic growth before the pandemic was in the range of 5-6% in each quarter. For example, in the first quarter of 2019 it was recorded at 6.01%, then the second quarter was 5.65%, the third quarter was 5.29%, and the fourth quarter was 5.46%. After the pandemic emerged in February 2020, the Bali economy immediately corrected negative 1.24% in the first quarter, minus 11.06% in the second quarter, minus 12.36% in the second quarter and minus 12.2% in the fourth quarter. Even in the first quarter of 2021, it is still minus 9.8%. "In the third quarter of 2022, this growth is due to improved mobility and increased foreign tourist arrivals due to international events," Margo explained.
