BPS notes that exports in October 2023 will decrease by 10.43 percent

Illustration of imported exports (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) announced that Indonesia's exports in October 2023 will reach 22.15 billion US dollars. This realization increased by 6.76 percent (mtm) compared to the previous month of 20.76 billion US dollars

Meanwhile, the export value has decreased compared to October 2022 by 10.43 percent on an annual basis (yoy).

Meanwhile, BPS recorded that oil and gas exports were recorded at 1.37 billion US dollars, down 2.38 percent compared to September 2023. Meanwhile, non-oil and gas exports increased 7.42 percent with a value of 20.78 billion US dollars.

"The upward trend in exports in October 2023 was driven by an increase in the non-oil and gas export sector, especially in the mineral fuel goods category which rose 24.61 percent and precious metals 43.10 percent," said BPS Deputy for Distribution and Services Statistics Pudji Ismartini in a press conference, Wednesday 15 November.

Pudji said that on an annual basis there was a contraction in the value of exports driven by a decline in non-oil and gas and continued the trend since the beginning of the year, especially because the prices of leading commodities were lower compared to last year.

Meanwhile, the agriculture, forestry and fisheries sectors contributed US$0.37 billion to non-oil and gas exports in October 2023, mining contributed US$4.26 billion and the processing industry sector US$16.14 billion.

In October 2023, the value of non-oil and gas exports will experience an annual decline in all sectors. The deepest decline occurred in the mining and other sectors, namely 28.7 percent (yoy). However, on a monthly basis it rose 10.66 percent (mtm).

According to Pudji, on a monthly basis, all non-oil and gas sectors also experienced a decline except for the agriculture, forestry and fisheries sectors. Meanwhile, the monthly increase in exports in October was driven by the processing industry sector, namely jewelry or valuables, iron and steel, sports shoes, and palm oil or CPO (crude palm oil).