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According to a report by the Central Statistics Agency (BPS), Indonesia's export value in June 2024 reached US$20.84 billion, down 6.65% compared to May 2024 (month-to-month/mtm).
This decline in export performance occurred in both the oil and gas and non-oil and gas sectors.
In June 2024, the value of non-oil and gas exports fell by 6.20% (mtm) to US$19.6 billion. BPS noted that 8 out of 10 non-oil and gas commodity items were corrected last month.
The value of exports of precious metals and jewelry/gems fell the most sharply, by 45.76% (mtm).
Nickel and nickel products decreased by 25.50% (mtm), and footwear decreased by 18.96% (mtm).
Meanwhile, oil and gas exports plummeted by 13.24% (mtm) to US$1.23 billion in June 2024. This was triggered by a 55.57% (mtm) drop in oil product exports.
However, crude oil exports increased by 2.99% (mtm), and natural gas exports rose by 1.82% (mtm).
Cumulatively, Indonesia's export value from January to June 2024 amounted to US$125.09 billion. This is down 2.76% compared to the same period last year (cumulative-to-cumulative/ctc).
The decline was driven by a 2.99% (ctc) correction in non-oil and gas exports, while oil and gas exports increased by 0.77% (ctc).
"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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