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Indonesia's Export and Import Values Decline at the Start of 2023

Cindy Mutia Annur 16/02/2023 17:00 WIB

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Indonesia's Central Statistics Agency (BPS) report shows that Indonesia's export and import values decreased month-on-month in January 2023.

Indonesia's Monthly Export and Import Values (January 2020 – January 2023)

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Indonesia's Export and Import Values Decline at the Start of 2023

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Indonesia's Monthly Export and Import Values (January 2020 – January 2023)

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Indonesia's Central Bureau of Statistics (BPS) reports that export value reached US$22.31 billion in January 2023. Month-on-month (MoM), this represents a 6.36% decrease compared to December's US$23.82 billion.

According to BPS records, the January 2023 export decline compared to December 2022 was due to a 6.84% MoM drop in non-oil and gas exports, from US$22.35 billion to US$20.82 billion. Conversely, oil and gas exports increased by 0.98% MoM, rising from US$1.47 billion to US$1.48 billion.

Similar to exports, import value also decreased MoM in January 2023.

Indonesia's import value was recorded at US$18.44 billion in January 2023, a 7.15% MoM decrease compared to December 2022's US$19.86 billion.

This MoM decline in import value was driven by a 9.21% MoM drop in oil and gas imports to US$2.9 billion. Non-oil and gas imports also decreased by 6.75% MoM, reaching US$15.93 billion.

January 2023 exports exceeded imports, resulting in a trade surplus of US$3.87 billion. This is lower than December 2022's surplus of US$3.96 billion.

Indonesia's Export-Import Value Compared to the Previous Year

Despite the MoM decrease, Indonesia's export-import value increased year-on-year (YoY).

Compared to January 2022, January 2023 export value increased by 16.37% YoY. Non-oil and gas exports increased by 13.97% YoY, and oil and gas exports rose by 65.03% YoY.

Import value in January 2023 increased by 1.27% YoY compared to the previous year. Non-oil and gas imports decreased by 2.78% YoY, while oil and gas imports increased by 30.36% YoY.

Editor : Padjar Iswara

"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 and Import Values Decline at the Start of 2023

Indonesia's Export and Import Values Decline at the Start of 2023

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