Vegetable Oils Become Indonesia's Leading Non-Oil and Gas Export Commodity in August 2023

The Central Bureau of Statistics (BPS) recorded that Indonesia's non-oil and gas exports reached US$22 billion in August 2023. This figure is up 5.35% month-to-month (mom) compared to July 2023, which amounted to US$20.68 billion.

Based on the commodities, animal and/or vegetable fats and oils were the biggest contributor to Indonesia's non-oil and gas exports, contributing US$2.92 billion in August 2023. Exports of this commodity grew by 7.56% (mom) from the previous month.

The second largest contributor was mineral fuels, with exports reaching US$2.88 billion. This commodity experienced an 8.42% decrease in export value month-on-month.

Third was metal ores, slag, and ash, contributing US$1.14 billion. This commodity recorded the largest growth among other commodities, reaching 223.5%.

Fourth was clothing and accessories (knitted), with exports valued at US$533 million, or a growth of 46.16%.

Fifth was nickel and its products, with exports valued at US$502 million. This commodity experienced a decrease of 13.63% from the previous month.

Although non-oil and gas exports increased month-on-month, cumulatively for the January-August 2023 period, the value is projected to have fallen by 12.27%.

BPS noted that in January-August 2022, national non-oil and gas exports reached US$171.52 billion. This then decreased to US$161.13 billion in the same period this year.

(Read also: Indonesia's Export Market Weakens in the First Half of 2023, Except for China)