Indonesia Imported 16 Million Tons of Oil Products by August 2022

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Viva Budy Kusnandar 14/11/2022 13:30 WIB

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Indonesia's crude oil imports from January to August 2022 reached 16.59 million tons, an increase compared to the previous year.

Indonesia's Crude Oil Import Volume (January 2021-August 2022)

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Indonesia's Crude Oil Import Volume (January 2021-August 2022)

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Indonesia's continuously increasing domestic fuel oil (BBM) needs force the country to import significant quantities of refined oil products every year.

Indonesia's Statistics Agency (BPS) reported that refined oil imports in August 2022 reached 2.28 million tons, an 8.75% increase compared to the previous month (month-on-month/mom).

Compared to August 2021, refined oil imports also increased by 38.99% (year-on-year/yoy).

Cumulatively, from January to August 2022, Indonesia's refined oil imports reached 16.59 million tons, a 20.16% increase compared to the same period last year.

The value of Indonesia's refined oil imports from January to August 2022 reached US$16.53 billion, equivalent to Rp248 trillion (using an exchange rate of Rp15,000 per US dollar). This value surged by 97.47% compared to January-August of the previous year, which was only US$8.37 billion.

In addition to refined oil products, in the first eight months of this year, Indonesia also imported 9.77 million tons of crude oil. Combining this with refined oil imports, Indonesia's total oil imports from January to August 2022 reached 26.36 million tons.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."