In August 2024, Indonesia's export value reached USD 23.56 billion, as reported by the Central Statistics Agency (BPS). Deputy for Distribution and Services at BPS, Pudji Ismartini, stated that exports for August grew by 5.97% month-to-month (MtM). "The export value in August 2024 was USD 23.56 billion, an increase of 5.97% from July 2024, with oil and gas exports totaling USD 1.20 billion, a 15.41% decline," she said in a press conference on Tuesday, 17 September 2024. Non-oil and gas exports rose by 7.43% MtM to USD 22.36 billion, driven by a 24.50% increase in Animal and Vegetable Fats and Oils (HS 15), contributing 2.12%. Meanwhile, Metal Ores, Slag, and Ash (HS 26) surged by 47.23% MtM, contributing 1.5% to total exports. However, gas export declines negatively impacted the overall oil and gas export value by -0.68%.
Year-on-year (YoY), Indonesia's export value saw a higher rise of 7.13% in August 2024, mainly supported by increases in non-oil and gas commodities, particularly Precious Metals and Jewelry (HS 71). In addition, Mineral Fuels (HS 27) and Electrical Machinery and Equipment (HS 85) also contributed to the overall export growth. Cumulatively, total exports for January-August 2024 amounted to USD 170.89 billion, down 0.35% compared to the same period in 2023. This decline was driven by a 0.46% drop in non-oil and gas exports, reaching USD 160.36 billion, while oil and gas exports rose by 1.36% to USD 10.53 billion. According to Pudji, the decline in mining and other sectors accounted for a 2.16% drop in non-oil and gas export performance during January-August 2024.
