Indonesia's export structure remains dominated by the industrial sector, contributing 79.91% of total exports as of October 2024, according to Minister of Trade Budi Santoso. Speaking during a meeting with Commission VI of the Indonesian Parliament in Jakarta on November 20, Santoso highlighted that industrial exports reached USD 18.43 billion, marking a 12.04% month-on-month (MoM) growth compared to September's USD 16.45 billion. Meanwhile, the mining and oil and gas sectors accounted for 17.21% of total exports, recording USD 3.97 billion in October 2024, a modest 2.05% MoM increase from USD 3.89 billion in September.
The agricultural sector contributed 2.88% of total exports, valued at USD 0.66 billion, a notable 17.85% MoM growth from USD 0.56 billion in September 2024. Santoso acknowledged challenges such as global market uncertainty and fluctuating commodity prices impacting mining and oil and gas exports. However, he emphasized the government’s commitment to boosting non-commodity exports and strengthening industrial competitiveness. "We will focus on developing innovative, high-value products in the industrial sector while sustaining growth momentum in agriculture to ensure export stability and sustainability," he concluded.
