The Central Statistics Agency (BPS) revealed that the value of Indonesia's exports in February 2021 reached USD 15.27 billion. The amount is down 0.19 percent compared to exports in January 2021, but on a YoY basis it grows 8.56 percent. Indonesia's main export sectors are oil and gas, agriculture, manufacturing and mining. Based on the export structure by sector, non-oil and gas contributed 94.36 percent of total exports in February 2021. "Our export structure has not changed, namely 94.36 percent comes from non-oil and gas exports," said the Head of BPS, Suhariyanto, in a press conference on Monday (15/3/2021).
YoY, agricultural exports increased 3.16 percent, industry 9 percent, mining 7.53 percent, and oil and gas 6.90 percent. However, on an m-to-m basis, oil and gas exports fell 2.63 percent, agriculture was minus 8.96 percent, and mining fell 6.71 percent. Only the industrial sector grew on an m-to-m basis by 1.38 percent. "If you look at the month to month, there is a slight decline from exports in February 2021, namely a slight decrease of 0.19 percent," said Suhariyanto. This decline in exports occurred because there was a decrease in oil and gas exports by 2.63 percent. Meanwhile, non-oil and gas exports fell very slightly by 0.04 percent.
Non-oil and gas commodities that experienced an increase in exports during February included iron and steel (HS 72), fuel oil (HS 27), vehicles and parts (HS 87), precious metals, jewelry or gems (HS 71), and organic chemicals ( HS 29). The largest export of iron and steel with an increase in value of USD 240.7 million. Meanwhile, exports that experienced a decline included animal or vegetable fats and oils (HS 15), ore, slag and metal ash (HS 26), wood pulp (HS 47), machinery and mechanical equipment (HS 84). In this group, animal or vegetable fats and oils have decreased by USD 639.5 million.
Previously, the Central Statistics Agency (BPS) recorded a surplus in February 2021's trade balance. Indonesia's trade balance in February 2021 was a surplus of USD 2.00 billion with an export value of USD 15.27 billion and imports of USD 13.26 billion. "The performance of exports and imports in February 2021 is arguably good, because exports amounted to USD 15.27 billion, meaning YoY 8.56 percent. It is encouraging because the increase in exports occurred in the agricultural, industrial and mining sectors," said the Head of BPS, Suhariyanto, in press conference on Monday (15/3/2021).
YoY, agricultural exports increased 3.16 percent, industry 9 percent, mining 7.53 percent, and oil and gas 6.90 percent.However, on an m-to-m basis, oil and gas exports fell 2.63 percent, agriculture was minus 8.96 percent, and mining fell 6.71 percent. Only the industrial sector grew on an m-to-m basis by 1.38 percent. Meanwhile, imports in February 2021 grew by double digits by 14.86 percent. YoY, imports in the consumer goods sector grew by 43.59 percent, raw or auxiliary materials by 11.53 percent, and capital goods by 17.68 percent. On an m-to-m basis, imports of consumer goods and raw or auxiliary materials have decreased. Each minus 13.78 percent and 0.50 percent. Only imports of capital goods grew compared to January 2020 by 9.08 percent. "We certainly hope that the increase in imports of raw and capital goods will show that the industry and investment in the country are starting to move well," Suhariyanto explained.
