Indonesia's Export Value Drops To 19.31 Billion US Dollars In February 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - The Central Statistics Agency (BPS) recorded an export value of February 2024 of 19.31 billion US dollars or a decrease of 5.79 percent compared to the previous month.

Meanwhile, exports in February also fell 9.45 percent compared to the same period last year.

Acting Head of BPS Amalia Adininggar Widyasanti said the annual decline in exports was 9.45 percent triggered by decreased non-oil and gas exports, especially in vegetable animal fats and oils, as well as mineral and steel fuels.

"In February 2024, the total non-oil and gas exports were 18.09 billion US dollars if detailed the agricultural, forestry and fishery sectors contributed 390 million US dollars, the mining sector and others 4.05 billion US dollars and the processing industry 13.64 billion US dollars," Amalia said in a BPS release Friday, March 15, 2024.

Meanwhile, when viewed on a monthly basis, the decline in export value decreased by 5.79 percent, driven by oil and gas exports, which also decreased.

Meanwhile, oil and gas exports were recorded at 1.22 billion US dollars, down 12.93 percent and the value of non-oil and gas exports fell 5.27 percent with a value of 18.09 billion US dollars.

Amalia said the monthly decline in the value of non-oil and gas exports was driven by a decrease in metal and steel which fell 3.26 percent.

Then the vegetable animal fats and oils are 2.60 percent and the precious metal jewelery has a decrease of 0.60 percent.

The decline in oil and gas exports was also driven by a decrease in the value of gas exports with a decrease of 1.58 percent.

According to Amalia, in February 2024, energy and agricultural commodity prices in the international market experienced a decline compared to January 2024.

"The price of metal and mineral commodities has decreased both monthly and annually, volume growth and global goods trading value are also expected to increase from January to March 2024," he said.