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Sluggish Oil and Gas and Non-Oil and Gas Performance Causes 11% Drop in Indonesian Exports in 2023

Nabilah Muhamad 16/01/2024 14:10 WIB

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Indonesia's export value reached US$258.81 million in 2023, BPS reported. This represents an 11.33% year-on-year decline due to sluggish performance in both oil and gas and non-oil and gas exports.

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Sluggish Oil and Gas and Non-Oil and Gas Performance Causes 11% Drop in Indonesian Exports in 2023

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Indonesia's Export Value (2022-2023*)

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The Central Statistics Agency (BPS) reported that Indonesia's export value reached US$258.81 billion in 2023. This figure is down 11.33% year-on-year (yoy) compared to 2022, which recorded US$291.90 billion.

BPS stated that the decline in export value was due to decreased performance in both oil and gas (migas) and non-oil and gas (nonmigas) exports. In 2023, Indonesia's non-migas exports fell 11.96% (yoy) to US$242.89 billion.

A breakdown by sector shows that the decline in non-migas exports was contributed by mining and others, which plummeted 20.86% (yoy) to US$51.51 billion.

Furthermore, the agriculture, forestry, and fisheries sector decreased by 10.4% (yoy) to US$4.4 billion, and the manufacturing industry fell by 9.26% (yoy) to US$186.89 billion last year.

In line with this, oil and gas exports also fell slightly by 0.47% (yoy) to US$15.92 billion in 2023.

The correction in oil and gas export value was influenced by gas exports, which decreased by 9.87% (yoy) to US$8.77 billion last year.

Meanwhile, oil product exports increased by 16.16% (yoy) to US$5.93 billion, and crude oil also rose by 8.34% (yoy) to US$1.75 billion.

Based on the province of origin, Indonesia's largest exports throughout 2023 came from West Java with a value of US$36.63 billion, followed by East Kalimantan at US$27.93 billion, and East Java at US$22.42 billion. These three provinces contributed 33.60% to total national exports in 2023.

(See also: Indonesia's Exports and Imports Decline in 2023, Trade Surplus Shrinks)

Editor : Erlina Fury Santika

"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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Sluggish Oil and Gas and Non-Oil and Gas Performance Causes 11% Drop in Indonesian Exports in 2023

Sluggish Oil and Gas and Non-Oil and Gas Performance Causes 11% Drop in Indonesian Exports in 2023

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Sluggish Oil and Gas and Non-Oil and Gas Performance Causes 11% Drop in Indonesian Exports in 2023

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