Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

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Nabilah Muhamad 17/11/2023 12:14 WIB

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Indonesia's export value reached US$22.14 billion in October 2023, a 6.76% month-on-month increase, according to BPS (Statistics Indonesia).

Indonesia's Export Value (September-October 2023*)

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Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

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Indonesia's Export Value (September-October 2023*)

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According to the Central Bureau of Statistics (BPS), Indonesia's export value reached US$22.15 billion in October 2023, up 6.76% compared to September 2023 (month-on-month/mom).

The BPS explained that this increase was driven by non-oil and gas exports, which rose 7.42% (mom) to US$20.77 billion in October 2023.

A breakdown by commodity shows that the growth in non-oil and gas export value was supported by precious metals, which surged 43.10% (mom) to US$691.3 million.

Footwear exports increased by 39.55% to US$598.6 million, and mineral fuel exports rose 24.61% (mom) to US$3.40 billion in October 2023.

On the other hand, oil and gas exports fell 2.38% (mom) to US$1.37 billion last month.

The correction in oil and gas export value was influenced by crude oil exports, which decreased by 11.85% (mom) to US$180.9 million, and oil product exports, which fell 2% (mom) to US$488 million.

Meanwhile, gas exports saw a slight increase of 0.11% (mom) to US$702.7 million in October 2023.

Despite the month-on-month increase, Indonesia's cumulative export value for the January-October 2023 period decreased by 10.43%.

Previously, in January-October 2022, Indonesia's export value reached US$244.06 billion, then fell to US$214.41 billion in the same period this year.

(See also: Indonesia's Economic Growth Slows to 4.94% in Q3 2023)

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."

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Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

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Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

Indonesia's Export Value Rises 6.76% in October 2023: Here's What Supported It

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