JAKARTA – Statistics Indonesia recorded that Indonesia’s export value in November 2023 reached US$22 billion, or decreased both on a monthly and annual basis.
When compared to October 2023, the value of Indonesia’s exports in November 2023 decreased by 0.67 percent.
Meanwhile, when compared to November 2022, the value of Indonesia’s exports in November 2023 decreased by 8.56 percent.
Deputy for Distribution and Services Statistics of Statistics Indonesia Pudji Ismartini explained the decline in m-to-m exports was driven by a decline in non-oil and gas exports, mainly iron and steel, nickel and its products, as well as dregs and residue from the food industry.
“The decline in the value of exports in November was driven by a decline in non-oil and gas exports, mainly in the categories of, first, iron and steel (HS72) which fell 6.82 percent, then nickel and its goods (HS75) which fell 17.16 percent, and the dregs and residue from the food industry (HS23) which fell 27.80 percent,” she said on Friday (15/12).
In a statement received by The Editor, it was noted that the value of oil and gas exports in November 2023 also decreased by 6.39 percent compared to the previous month.
This was driven by a decline in the export value of oil products, which fell by 29.95 percent or US$146 million.
The three main destination countries for Indonesia’s non-oil and gas exports in November 2023 were China (26.11 percent), India (9.68 percent), and the United States (9.37 percent).
While the share of exports to China decreased by 6.44 percent (m-to-m) or 13.86 percent (y-on-y), the share of exports to India and the United States increased.
Indonesia’s export share to India in November 2023 was recorded to have increased by 7.03 percent (m-to-m) or 23.91 percent (y-on-y), while exports to the United States increased by 6.45 percent (m-to-m) or decreased by 7.49 percent (y-on-y).
