The Central Statistics Agency (BPS) reported that Indonesia’s export value in August 2024 reached USD 23.56 billion, a 5.97% increase from the previous month. Deputy for Distribution and Services Statistics, Pudji Ismartini, stated that the non-oil and gas export sector significantly contributed to this rise, recording an increase of 7.43% to USD 22.36 billion. In contrast, the oil and gas sector dropped by 15.41% to USD 1.20 billion. The increase in non-oil and gas exports was largely driven by commodities such as animal and vegetable oils (HS 15), which surged by 24.50%, contributing 2.12%, and metal ores, slag, and ash (HS 26), which grew by 47.23%, adding 1.50%. Additionally, electrical machinery and equipment (HS 85) rose by 12.54%, contributing 0.73%.
On an annual basis, Indonesia's export value in August 2024 experienced a 7.13% growth. This rise was mainly attributed to non-oil and gas exports, particularly in precious metals, jewelry, and gemstones (HS 71), mineral fuels (HS 27), as well as machinery and electrical equipment (HS 85). However, the decline in oil and gas exports was primarily caused by a reduction in gas exports, contributing -0.68%. It concludes that non-oil and gas commodities continue to be the main drivers of Indonesia’s export growth.
