Indonesia's Export and Import Performance Declined in June 2023

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Cindy Mutia Annur 17/07/2023 13:30 WIB

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Indonesia's export and import performance slumped in May 2023.

Indonesia's Monthly Export and Import Values (January 2020 – June 2023)

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Indonesia's Monthly Export and Import Values (January 2020 – June 2023)

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Indonesia's export and import performance declined in the first half of 2023.

According to the Central Statistics Agency (BPS) report, Indonesia's total export value in June 2023 reached US$20.6 billion.

This figure decreased by 5.08% compared to May 2023 (month-on-month/mom), and decreased by 21.18% compared to June of the previous year (year-on-year/yoy).

According to BPS, the decline in exports in June 2023 was caused by non-oil and gas exports, which fell 5.17% (mom) from US$20.39 billion to US$19.34 billion. Meanwhile, oil and gas exports fell 3.64% (mom) from US$1.3 billion to US$1.26 billion.

The decrease in oil and gas exports was due to a 10.35% (mom) drop in gas exports to US$654.4 million, while crude oil exports increased by 10.34% (mom) to US$182.6 million, and oil product exports increased by 2.61% (mom) to US$424 million.

In June 2023, Indonesian imports also fell by 19.4% month-on-month (mom) and 18.35% year-on-year (yoy) to US$17.15 billion.

In detail, oil and gas imports decreased by 29.12% (mom) to US$2.2 billion, and non-oil and gas imports decreased by 17.73% (mom) to US$14.92 billion.

The decrease in oil and gas imports was due to a 43.24% (mom) decrease in crude oil imports to US$672.3 million, a 17.57% (mom) decrease in oil product imports to US$1.31 million, and a 34.11% (mom) decrease in gas imports to US$230.1 million.

The higher value of exports compared to imports in June 2023 resulted in Indonesia still recording a trade surplus of US$3.45 billion.

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 and Import Performance Declined in June 2023

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