Warning Signal Appears, Indonesian Exports Decreased Six Months In A Row!

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The Central Statistics Agency (BPS) reported that Indonesia's export value in February 2023 was US$21.3 billion.

BPS Deputy for Distribution Statistics Habibullah said the number was less than in January 2023 which was valued at US$22.3 billion and in December 2022 which was US$23.8 billion.

In fact, the collapse of RI's exports has occurred for one semester or six months in a row. At that time, exports in August 2022 amounted to US$27.8 billion.

This value then consistently decreased to US$24.77 billion in September 2022, to US$24.72 billion in October 2022, and to US$24.09 billion in November 2022.

"Export values ​​slowed again on a monthly basis in February 2023 but not as deep as the previous month," he said while delivering a statement to the media crew in Jakarta, Wednesday, March 15.

Habibullah detailed last month's exports were still dominated by non-oil and gas commodities with a value of US$20.2 billion. Meanwhile, oil and gas commodities contributed US$1.1 billion.

Habibullah added, although declining on a monthly basis, Indonesian exports as of February grew annually or year on year (yoy) by 4.5 percent.

"In February 2022, Indonesia's export value was IDR 20.4 billion US dollars," he said.

Furthermore, the record for the largest non-oil and gas export in February 2023 was to China, namely US$5 billion. Followed by the United States' 1.91 billion US dollars and Japan's 1.74 billion US dollars. Meanwhile, the contribution of the three reached 42.99 percent.

Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$3.97 billion and US$1.25 billion respectively.

"Cumulatively, Indonesia's export value from January to February 2023 reached US$43.7 billion. This figure is up 10.2 percent compared to the same period in 2022. Meanwhile, non-oil and gas exports reached 41 billion, an increase of 8.7 percent," concluded Habibullah.