Indonesia's export value fell 2.46% to US$2.46 billion in November 2022

The Central Statistics Agency (BPS) reported that Indonesia's export value decreased by 2.46% to US$22.4 billion in November 2022 compared to the previous month, due to a decline in several global commodity prices and reduced volume. Year-on-year, the export value fell by 5.58% compared to the same period in November 2021.

Details show that non-oil and gas exports fell by 1.94% to US$22.99 billion in November 2022 compared to the previous month, and oil and gas exports plummeted by 11.85% to only US$1.13 billion last month.

Cumulatively, from January to November 2022, the total export value reached US$268.18 billion, equivalent to Rp4.16 quadrillion. This value increased by 28.16% compared to the same period the previous year.

By sector, non-oil and gas exports from the manufacturing industry from January to November 2022 grew by 18.59% compared to the same period the previous year (year to date/ytd). Similarly, exports of agricultural, forestry, and fishery products increased by 12.44% (ytd), and mining and other exports increased by 74.15% (ytd).

Similarly, Indonesia's import value also decreased by 0.91% to US$18.96 billion in November 2022 compared to the previous month. The import value also fell by 1.89% compared to November 2021.

However, cumulatively from January to November 2022, Indonesia's import value increased by 24.45% to US$217.58 billion.

Thus, Indonesia's trade balance in November 2022 showed a surplus of US$5.16 billion, and cumulatively in the first 11 months of this year, it also showed a surplus of US$50.59 billion.

For information, Indonesia's trade value from January to November 2022 reached US$485.76 billion.