BPS: Export Reduction Trend Continues, July Records 20.88 Billion US Dollars

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) reported that Indonesia's exports in July 2023 amounted to 20.88 billion US dollars. This figure fell quite well in 18.03 percent year on year (yoy) compared to July 2022 which amounted to 25.47 billion US dollars.

Plt. Head of BPS Amalia Adininggar Widyasanti said, on an annual basis, the decline in exports occurred in both sectors, namely oil and gas and non-oil and gas.

"This decline in exports continues the trend that has occurred since the beginning of 2023 in line with the decline in global leading commodity prices compared to last year," he said at a press conference today, Tuesday, August 15.

Amalia explained, on a monthly basis or month to month (mtm) the value of exports which rose slightly by 1.39 percent from the previous 20.60 billion US dollars in June 2023 to 20.88 billion US dollars in July 2023.

"If you look at it in detail, oil and gas exports worth US$1.23 billion or a decrease of 2.61 percent mtm compared to the previous month. Meanwhile, non-oil and gas exports in July 2023 reached 19.65 billion US dollars, an increase of 1.62 percent from the previous month," he said.

Amalia revealed that the development of exports for the July period was more driven by non-oil and gas performance, especially goods made of iron and steel, nickel, and chemical products.

To note, export performance has continued to decline since the beginning of this year. In fact, trade abroad has always recorded a trend above 21 billion US dollars over the past year.

The largest non-oil and gas export in July 2023 was to China, which was 4.93 billion US dollars. Then followed by the United States 2.03 billion US dollars and India 1.82 billion US dollars with their third contribution reaching 44.70 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to 3.60 billion US dollars and 1.27 billion US dollars, respectively," he explained.