Indonesia's Export Performance Weakens in April 2023

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Adi Ahdiat 15/05/2023 15:30 WIB

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Indonesia's export value in April 2023 reached USD 19.29 billion, down 17.26% compared to March 2023 (month-on-month), and down 29.44% compared to April last year (year-on-year).

Indonesia's Monthly Export Value (January 2020–April 2023)

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Indonesia's Monthly Export Value (January 2020–April 2023)

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According to the Central Bureau of Statistics (BPS) report, Indonesia's export value in April 2023 reached USD 19.29 billion.

This figure represents a 17.26% decrease compared to March 2023's export value (month-on-month/mom), and a 29.44% decrease compared to April of the previous year (year-on-year/yoy).

According to BPS Deputy for Methodology and Statistical Information, Imam Machdi, this export decline was partly influenced by the momentum of the 1444 Hijriah Eid al-Fitr holiday.

A breakdown by commodity group shows that Indonesia's oil and gas (migas) export value in April 2023 reached USD 1.26 billion, down 5.95% (mom) and 12.82% (yoy).

Meanwhile, non-oil and gas exports reached USD 18.03 billion, down 18.33% (mom) or 30.35% (yoy).

In the non-oil and gas sector, the most significant monthly decline was observed in precious metals, jewelry, and gemstones, with a 52.5% decrease (mom).

Decreases were also seen in vehicles and parts (-34.16% mom); animal and vegetable fats and oils (-20.45% mom); machinery and electrical equipment and parts (-18.34% mom); and mineral fuels (-12.04% mom).

Several non-oil and gas commodities did see export value increases. However, due to their relatively small nominal values, these commodities were unable to boost overall national export performance.

The non-oil and gas commodity with the most significant export value increase in April 2023 was ships, boats, and floating structures, which rose by 113.95% (mom).

Other increases included tin and tin products (63.49% mom); fertilizers (37.69% mom); metal ores, slag, and ash (26.16% mom); and inorganic chemicals (9.96% mom).

By destination country, Indonesia's overall exports saw the most significant decline to China.

Indonesia's exports to China in April 2023 reached USD 4.62 billion, a decrease of approximately USD 1 billion compared to the previous month.

During the same period, Indonesia's exports to ASEAN countries decreased by approximately USD 932.6 million, to the United States by USD 393.1 million, and to Japan by USD 385.1 million.

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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Indonesia's Export Performance Weakens in April 2023

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