Indonesia’s exports rise 7.13% YoY in August – report

Indonesia’s exports in August 2024 reached a value of $23.56 billion, marking a 5.97 per cent increase compared to the previous month and a 7.13 per cent increase compared to August 2023, as per data released by BPS Statistics on Tuesday.

The report showed that non-oil and gas exports accounted for $22.36 billion in August 2024, a 7.43 per cent increase from July 2024 and an 8.14 per cent increase from August 2023.

Indonesia’s exports during the first eight month of 2024 reached $170.89 billion, a slight 0.35 per cent decrease compared to the same period in 2023. Non-oil and gas exports during this period reached $160.36 billion, down by 0.46 per cent.

In August 2024, non-oil and gas exports surged in most commodities, with animal or vegetable fats and oils leading the way with a 24.50 per cent rise to $470.8 million. Precious metals, jewelry, and gemstones saw the biggest drop, falling by 11.88 per cent.

Manufacturing product exports rose by 2.05 per cent from January to August 2024, while agriculture, forestry, and fisheries exports surged by 14.54 per cent. However, mining and other exports saw a decline of 10.62 per cent compared to the same period in 2023.

China, the United States, and Japan were the top destinations for Indonesia’s non-oil and gas exports, totaling 43.55 per cent of exports in August 2024. Additionally, exports to ASEAN and the EU reached $4.12 billion and $1.54 billion, respectively.

Attribution: BPS Statistics Indonesia report

Subediting: M. S. Salama