Indonesia's Processed Industrial Product Export Values Fluctuated 2020-2024

According to the Central Statistics Agency (BPS), Indonesia’s manufacturing industry export value from 2020 to 2024 showed a fluctuating trend. The export values are calculated on a free on board (FOB) basis.

In 2020, the FOB export value of the manufacturing industry reached US$130.8 billion, marking a growth of 2.97%.

In 2021, the value rose to US$176.8 billion, and further increased to US$206.2 billion in 2022, with respective growth rates of 35.19% and 16.60%.

However, in 2023, the manufacturing industry’s export value contracted by 9.14%, dropping to US$187.3 billion.

“In 2024, manufacturing exports rebounded with a growth rate of 5.90%, reaching US$198.4 billion,” BPS stated in its Export Commodity Analysis 2020–2024 report.

BPS noted that in 2024, the main commodities dominating the manufacturing export sector were palm oil, non-ferrous basic metals, and iron and steel.

In terms of contribution to total non-oil and gas exports, the manufacturing industry remained the leading contributor throughout 2020–2024, with an average share of 79.14%.

“In 2020, the contribution of manufacturing exports reached 84.42%, then decreased to 80.58% in 2021, and fell further to 74.66% in 2022. In 2023 and 2024, the contribution rose again to 76.91% and 79.15%, respectively,” BPS reported.

(Read: Fluctuations in Indonesian Black Pepper Exports During the 2012-2024 Period)