Indonesia's Export Value Dropped to 20.52 Billion US Dollars in January 2024

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) recorded that Indonesia's export value in January 2024 reached 20.52 billion US dollars. This realization decreased by 8.34 percent (mtm) compared to December 2023 of 22.38 billion US dollars.

Acting Head of BPS Amalia Adininggar explained that oil and gas exports were recorded at USD 1.39 billion, down 5.49 percent compared to December 2023 of USD 1.48 billion.

Meanwhile, the decline in the value of oil and gas exports was driven by a decline in the value of oil exports, with a contribution of 0.89 percent.

Meanwhile, the value of non-oil and gas exports fell 8.54 percent with the value of non-oil and gas exports reaching 19.13 billion US dollars compared to December 2023 of 20.91 billion US dollars.

The decline in the value of non-oil and gas exports was mainly seen in the mineral fuels group (HS 27) with a decrease of 3.85 percent, metal ore, slag, and ash (HS 26) with a decrease of 2.21 percent, and precious metals and gem jewelry ( HS 21) contributing to a decrease of 1.49 percent.

Amalia said that the value of Indonesia's exports in January 2024 fell 8.06 percent year on year (yoy) to 20.52 billion US dollars compared to January 2023 which reached 22.32 billion US dollars.

This decline was driven by a decline in non-oil and gas exports, especially mineral fuels (HS 27), precious metals and jewelry or gems (HS 71), and electrical machinery and equipment and parts (HS 85).

"The trend of weakening exports is still continuing. The value of exports has decreased both monthly and yearly. The decline occurred in the oil and gas and non-oil and gas sectors," explained in a press conference, Thursday, February 15.