Indonesia 2023 Exports Drop 11.33 Percent

Logistical illustration (Photo: dock. intermediate)

JAKARTA - The Central Statistics Agency (BPS) noted that the value of Indonesia's exports in January 2023 reached US$258.82 billion, down 11.33 percent compared to the same period in 2022. Meanwhile, non-oil and gas exports reached US$242.90 billion, down 11.96 percent.

Meanwhile, Indonesia's export value in December 2023 reached 22.41 billion US dollars. This realization increased by 1.89 percent (mtm) compared to 22.15 billion US dollars in the previous month.

Deputy for Distribution and Services Statistics, BPS Pudji Ismartini, explained that the increase in export value was driven by an increase in oil and gas exports and also an increase in the value of non-oil and gas exports.

"Oil and gas exports were recorded at 1.48 billion US dollars, or an increase of 15.28 percent (mom). Then the value of non-oil and gas exports rose 1.06 percent (mom) with an export value of 20.93 billion US dollars," he said in a BPS release Monday, 15 Jakarta.

Pudji said the increase in the value of non-oil and gas exports in December 2023 was driven by an increase in exports of mineral fuel (HS 27) by 10.07% (mom) and metal ore, tarak, and ash (HS 26) recorded an increase of 37.37 percent (mom).

Meanwhile, oil and gas exports rose 15.28 percent compared to the previous month. The increase in export value was driven by exports of oil products of up to 78.67 percent compared to the previous month. Meanwhile, non-oil and gas exports rose 1.06 percent to 20.93 billion US dollars.

Although monthly it increased, BPS noted that on an annual basis the value of 2023 exports decreased when compared to December 2022, the export value at the end of 2023 fell 5.76 percent (yoy).

Pudji said this decline was driven by non-oil and gas exports, mainly due to the decline in exports of mineral fuel commodities (HS 27), by 16.49 percent, then nickel and goods also decreased by 30.44 percent.

Then animal fat and oil (HS 15) million decreased 23.42 percent (yoy). Then nickel and goods from it (HS 75) recorded a decrease of 30.44 percent (yoy).