Despite Increased Volume, Indonesia's Coal Export Value Decreased in 2024

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Adi Ahdiat 20/02/2025 11:27 WIB

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According to BPS data, Indonesia's coal export volume increased in 2024. However, the value of coal exports decreased due to commodity price corrections.

Indonesia's Coal Export Volume and Value (2014-2024)

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Indonesia's Coal Export Volume and Value (2014-2024)

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According to data from the Central Statistics Agency (BPS), Indonesia exported 405.76 million tons of coal throughout 2024, a 6.9% increase compared to 2023 (year-on-year/yoy).

Despite the increase in volume, the value of Indonesia's coal exports in 2024 fell by 11.9% (yoy) to US$30.49 billion.

This decline in export value was influenced by a correction in commodity prices. According to World Bank data, the average price of Australian coal, a global benchmark, fell by 21.2% (yoy) in 2024.

The World Bank also predicts that the downward trend in coal prices will continue over the next two years due to declining demand.

"The price of Australian coal is expected to fall by around 12% (yoy) in 2025 and 2026. Global coal consumption is expected to shrink in 2025 and 2026," said the World Bank in its October 2024 Commodity Markets Outlook.

Starting March 1, 2025, the Indonesian government will require exporters in the mining (except oil and gas), plantation, forestry, and fisheries sectors to place 100% of their natural resource export earnings (DHE SDA) in special accounts at national banks for 12 months.

“[Placing 100% of DHE SDA in national banks for 12 months] is primarily for coal, CPO, and nickel, the three commodities that play the biggest role in generating our exports and foreign exchange,” said Finance Minister Sri Mulyani in a press conference on Monday, February 17, 2025.

Sri Mulyani stated that this new policy aims to ensure that the proceeds from Indonesia's natural resource exports actually enter the country and strengthen the national economy.

"Our banking and financial systems will also continue to be strengthened so that they are also able to continue providing services to these exporters," she said.

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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Despite Increased Volume, Indonesia's Coal Export Value Decreased in 2024

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Despite Increased Volume, Indonesia's Coal Export Value Decreased in 2024

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