Economic Growth in Labuhanbatu Regency 2019

·       Labuhanbatu's economy in 2019 compared to the previous year grew by 5.07 percent. Based on the production approach, the highest growth was achieved by the Other Services Business Field at 7.51 percent. Followed by Agriculture, Forestry, and Fisheries Business Fields by 7.02 percent and Transportation and Warehousing Business Fields by 6.97 percent.

·       Under the expenditure approach, the highest growth in the LNPRT Consumption Expenditure component was 10.95 percent, then the Inventory Change component was 7.45 percent, followed by the PMTB component by 6.38 percent.

·       Three business sectors that gave dominant role to Labuhanbatu GRDP in 2019, namely: manufacturing industry by 34.79 percent, agriculture, fisheries and forestry by 23.55 percent and wholesale and retail trade and car and motorcycle reperation by 18.01 percent . While in terms of expenditure, the household consumption expenditure component (PKRT) was 48.10 following the percent component of exports of goods and services made the biggest contribution at 37.41 percent, and the gross fixed capital formation (PMTB) component was 23.03 percent.

·       Nominally, Labuhanbatu's GRDP in 2019 at current prices reaches Rp. 33,610.43 billion and GRDP at constant 2010 prices reached Rp. 23,232.71 billion.