Indonesia's non-oil and gas (non-migas) commodities are the mainstays of its export performance.
According to data from the Central Statistics Agency (BPS), in 2023 the value of non-migas exports reached US$242.87 billion, almost 94% of the total national export value.
Despite its large value, Indonesia's non-migas export value in 2023 decreased by 11.97% compared to 2022 (year-on-year/yoy).
A closer look reveals that this decrease occurred in 10 out of the 15 main non-migas commodities.
The steepest decline was in crumb rubber, whose export value in 2023 plummeted by 29.98% (yoy).
Significant decreases were also seen in coal, organic basic chemicals from agricultural products, athletic footwear, palm oil, and ready-made garments/textile, with export values weakening in the range of 14-26% (yoy).
Furthermore, the export value of copper ore, electrical equipment, pulp, and iron/steel decreased in the range of 2-9% (yoy).
Only 5 out of the 15 main non-migas commodities saw an increase in export value: jewelry/precious goods, other communication equipment, nickel, four-wheeled and above motor vehicles, and lignite, with details as shown in the graph.
However, the nominal value of exports of these strengthening commodities was relatively small, and therefore insufficient to raise the national aggregate.
Here is a breakdown of the contribution of the 15 main non-migas commodities nationally in 2023, ordered from largest to smallest:
1. Coal: 14.24% (contribution of commodity export value to the total national non-migas export value)
2. Iron/Steel: 11.38%
3. Palm Oil: 9.87%
4. Copper Ore: 3.43%
5. Lignite: 3.34%
6. Electrical Equipment: 3.18%
7. Four-wheeled and above Motor Vehicles: 2.82%
8. Nickel: 2.80%
9. Ready-made Garments/Textile: 2.79%
10. Organic Basic Chemicals from Agricultural Products: 2.57%
11. Jewelry/Precious Goods: 2.31%
12. Athletic Footwear: 1.77%
13. Pulp: 1.44%
14. Other Communication Equipment: 1.25%
15. Crumb Rubber: 0.99%