The oil and gas sector in West Papua has once again demonstrated remarkable performance. According to data from the West Papua Province Statistics Agency (BPS), oil and gas exports in July 2024 surged by 36.59% compared to the previous month. This significant increase not only positively impacts the region’s trade balance but also has the potential to drive economic growth in West Papua. The rising demand for oil and gas products in the international market highlights the strengthening position of West Papua in global trade. Merry, head of BPS West Papua, reported that the export realization for July 2024 reached USD 436.45 million, marking a 37.29% increase compared to June 2024. Oil and gas exports alone accounted for USD 432.74 million, up 36.59%, while non-oil and gas exports soared by 237.14% to USD 3.71 million.
Annually, West Papua's export value in July 2024 experienced a 66.57% increase, driven by both oil and gas and non-oil and gas exports. The mineral fuel commodities in the oil and gas sector contributed 99.15% or USD 432.74 million of the total exports. The remaining USD 3.71 million, or 0.85%, came from non-oil and gas commodities. Merry explained that oil and gas export values rose by 36.59% (mtm), equating to USD 115.93 million compared to June 2024's USD 316.82 million. Non-oil and gas commodities also showed positive growth, increasing by 237.14% (mtm) or USD 2.61 million compared to the previous month’s USD 1.10 million. The top three export destinations were China (USD 181.07 million), Japan (USD 123.51 million), and South Korea (USD 123.47 million), with other significant markets including Mexico, Hong Kong, Papua New Guinea, Timor Leste, the United States, Thailand, and Malaysia. During July 2024, West Papua's imports totaled USD 6.45 million, primarily from Australia (98.76%), Japan (1.08%), and Poland (0.15%).
