Indonesia’s exports rise in Nov. ’24

Indonesia’s exports recorded $24.01 billion in November 2024, marking a 1.70 fall month-on-month, yet a 9.14 per cent rise on an annual basis compared to November 2023, the BPS Statistics agency reported on Monday.

Non-oil and gas exports, which account for the majority of Indonesia’s exports, totalled $22.69 billion in November 2024, down 1.67 per cent from the previous month but up 9.54 per cent from the previous year.

Cumulatively, Indonesia’s exports from January to November 2024 totalled $241.25 billion, a 2.06 per cent year-on-year increase, while non-oil and gas exports during the same period reached $226.91 billion, up 2.24 per cent year-on-year.

China was the leading destination for Indonesia’s non-oil and gas exports, totalling $6.24 billion in November 2024. The United States and India followed with export values of $2.34 billion and $1.58 billion.

Together, these three countries accounted for 44.82 per cent of total non-oil and gas exports. ASEAN received $4.09 billion, while the European Union (27 countries) received $1.37 billion in Indonesian exports.

Indonesia’s trade balance in November 2024 showed a surplus of $4.42 billion, driven by a non-oil and gas surplus of $5.67 billion, offset by a $1.25 billion deficit in oil and gas, the report added.

Attribution: The BPS Statistics Agency report

Subediting: M. S. Salama