Philippines, Indonesia's Largest Car Market in the First Half of 2024

Transportation & Logistics

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Nabilah Muhamad 16/07/2024 12:31 WIB

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Indonesia's Central Statistics Agency (BPS) reports that automotive exports from Indonesia reached US$2.78 billion from January to June 2024. The Philippines was the main export destination, accounti

Indonesia's Automotive Export Proportions by Destination Country (January-June 2024)

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Philippines, Indonesia's Largest Car Market in the First Half of 2024

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Indonesia's Automotive Export Proportions by Destination Country (January-June 2024)

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The Central Statistics Agency (BPS) reported that the value of Indonesian-made car exports reached US$2.78 billion in January-June 2024. This accounted for 2.4% of Indonesia's total non-oil and gas exports during that period.

However, this figure represents a 6.39% year-on-year (yoy) decrease compared to the same period last year, which reached US$2.97 billion.

Based on market destination, exports to the Philippines were the largest, accounting for 27.64% of total Indonesian car exports.

“About one in four cars exported from Indonesia are sent to the Philippines,” said Acting Head of BPS Amalia Adininggar Widyasanti in a press conference on the BPS YouTube channel on Monday (July 15, 2024).

Indonesia also exported cars to Vietnam (16.17%), Saudi Arabia (15.52%), and the United Arab Emirates (UAE) (5.46%).

Exports to other countries accounted for 24.68% of the total in January-June 2024.

BPS also noted that the value of Indonesian car exports has shown positive growth over the past three years. Indonesian car exports reached US$3.39 billion in 2021, increased to US$5.57 billion in 2022, and further rose to US$6.12 billion in 2023.

"Commodities with HS codes 8702 and 8703 are among those showing good export value growth over the past three years," said Amalia.

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."