The Central Statistics Agency (BPS) released data on Indonesia's exports for August 2024 on Tuesday (17/8/2024). Indonesia's exports in August reached USD 23.56 billion, an increase of 5.97% month-to-month (mtm) compared to July 2024. This was conveyed by Pudji Ismartini, Deputy for Distribution and Services at BPS, in a press conference at the BPS office in Jakarta this morning. "The increase in export value in August on a monthly basis was mainly driven by non-oil and gas exports, especially in animal or vegetable fats and oils, which rose 24.50% with a contribution of 2.12%," said Pudji. Meanwhile, oil and gas exports were recorded at USD 1.20 billion, a decrease of 15.41%. The decline in oil and gas exports was primarily driven by a decrease in gas export value, which contracted by 0.68%.
Annually, the export value in August 2024 increased by 7.13% year-on-year (yoy). "This increase was driven by non-oil and gas exports, particularly in precious metals and jewelry or gemstones (HS71), followed by mineral fuels (HS27), machinery and electrical equipment and their parts (HS85)," added Pudji. Furthermore, BPS noted that on a monthly basis, coal and iron and steel exports decreased, while CPO and its derivatives increased. Annually, coal exports surged, while iron and steel and CPO decreased. The value of coal exports dropped by 0.84% on a monthly basis but rose by 9.65% annually. "The export value of iron and steel fell by 1.42% month-on-month and 10.51% year-on-year," said Pudji. Meanwhile, CPO increased by 27.86% monthly but declined by 26.39% annually.
