Normalization Of Mining Prices Causes Non-Oil And Gas Exports To Decline 21 Percent

Illustration (Photo: Doc. Antam)

JAKARTA The Central Statistics Agency (BPS) reported that Indonesia's non-oil and gas export price in August 2023 decreased minus 21.25 percent year on year (yoy).

Plt. Head of BPS Amalia Adininggar Widyasanti said the value of non-oil and gas exports in August 2023 was 20.69 billion US dollars.

"This number has decreased from the achievement of August 2022, which at that time was non-oil and gas exports of USD 26.27 billion," he told the media crew, Friday, September 15.

According to Amalia, Indonesia's non-oil and gas exports have fallen on an annual basis in all sectors of contributors.

"The deepest decline occurred in the mining sector and others," he said.

Even though it collapsed year on year, non-oil and gas exports on a monthly basis (month to month/mtm) are known to have increased by 5.35 percent from July 2023 which amounted to 19.64 billion US dollars.

"The export value of the mining sector and others experienced the highest monthly increase of 15.37 percent mtm, with supporting commodities being copper ore, zinc ore, other mineral ingredients, and lead ore," said Amalia.

In general, Indonesia's export performance (including oil and gas) in August 2023 was 22 billion US dollars, up 5.47 percent mtm from July 2023 which amounted to 20.86 billion US dollars.

Meanwhile, on an annual basis, exports decreased sharply by 21.21 percent yoy from August 2022 which amounted to 27.93 billion US dollars.

"This annual decline in exports (generalized) continues the downward trend that has occurred since the beginning of the year because it is influenced by the development of Indonesia's leading commodity prices in the global market, where this year's prices are relatively lower than last year," he said.