Indonesia's Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

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Nabilah Muhamad 17/10/2023 16:16 WIB

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Indonesia's BPS (Central Bureau of Statistics) recorded that oil and gas imports reached US$3.33 billion in September 2023, a 25.04% increase from August 2023, which amounted to US$2.66 billion.

Indonesia's Oil and Gas Import Value (August 2023-September 2023*)

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Indonesia's Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

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Indonesia's Oil and Gas Import Value (August 2023-September 2023*)

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According to the Central Bureau of Statistics (BPS), Indonesia's oil and gas imports reached US$3.32 billion in September 2023. This figure represents a 25.04% month-on-month (mom) increase compared to August 2023, which stood at US$2.66 billion.

BPS explained that this increase in oil and gas imports was due to a surge in crude oil imports of 94.40% (mom), amounting to US$1.28 billion last month.

The increase in oil and gas imports also occurred in oil products, which rose by 5.87% (mom) to US$1.82 billion in August 2023.

Meanwhile, gas imports decreased by 20.37% (mom) to US$224.9 million.

Despite the month-on-month increase, cumulatively, from January to September 2023, the value of oil and gas imports decreased by 2.85%.

Previously, from January to September 2022, Indonesia's oil and gas imports reached US$31.04 billion, falling to US$25.76 billion in the same period this year.

Amidst the increase in oil and gas imports, Indonesia's overall import value decreased by 8.15% (mom) to US$17.34 billion in August 2023.

This decrease, according to BPS, was driven by a weakening in non-oil and gas imports by 13.60% (mom). Based on the commodity category, the sharpest decline occurred in food waste and residue, which decreased by 39.02% month-on-month.

(Read also: Indonesia's Trade Balance Records 41 Consecutive Months of Surplus until September 2023)

Editor : Erlina Fury Santika

"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 Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

Indonesia's Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

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Indonesia's Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

Indonesia's Breadcrumb Imports Surge 25% in September 2023: Here's What's Driving It

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