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Non-oil and gas export performance weakens in Q1 2024

Adi Ahdiat 22/04/2024 16:43 WIB

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According to BPS data, Indonesia's non-oil and gas export performance weakened in Q1 2024, declining by 7.53% compared to Q1 of the previous year.

Indonesia's Non-Oil and Gas Export Value by Commodity Group, Quarter I (2023-2024)

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Non-oil and gas export performance weakens in Q1 2024

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Indonesia's Non-Oil and Gas Export Value by Commodity Group, Quarter I (2023-2024)

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According to a report by Indonesia's Central Bureau of Statistics (BPS), Indonesia's non-oil and gas exports reached US$58.3 billion in the first quarter of 2024.

This achievement weakened by 7.53% compared to the first quarter of last year (cumulative-to-cumulative/ctc).

The sharpest decline in non-oil and gas export performance occurred in the mineral fuel group, which fell by 24.37% (ctc).

Exports of chemical products then decreased by 18.63% (ctc), animal/vegetable fats/oils by 15.24% (ctc), and machinery/electrical equipment/parts by 10.37% (ctc).

The decline in export performance of vehicles/parts, precious metals/jewelry, mechanical machinery/parts, and chemical products was relatively milder, with contractions between 3-9% (ctc).

Meanwhile, in the metal ore, slag, and ash group, exports increased by 47.46% (ctc), footwear by 0.95% (ctc), and other goods by 1.25% (ctc).

However, the export value of these strengthening commodity groups was relatively small, thus unable to boost the national aggregate performance.

Here's a detailed breakdown of the percentage decrease/increase in the value of Indonesia's non-oil and gas exports for Q1 2024, ordered from the steepest decline:

* Mineral fuels: down 24.37% (ctc)
* Chemical products: down 18.63% (ctc)
* Fats/oils: down 15.23% (ctc)
* Electrical machinery/parts: down 10.37% (ctc)
* Vehicles/parts: down 9.64% (ctc)
* Total Non-oil and gas exports: down 7.53% (ctc)
* Iron and steel: down 6.91% (ctc)
* Precious metals/jewelry: down 3.70% (ctc)
* Mechanical machinery/parts: down 3.11% (ctc)
* Footwear: up 0.94% (ctc)
* Other goods: up 1.25% (ctc)
* Metal ore/slag/ash: up 47.46% (ctc)

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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Non-oil and gas export performance weakens in Q1 2024

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