Indonesia’s exports in November fell 1.70 percent compared to those in October 2024

Indonesia’s exports in November 2024 were valued at 24.01 billion US dollars or fell 1.70 percent compared to those in October 2024, according to Statistics Indonesia (BPS).

 

Jakarta (Indonesia Window) – Indonesia’s exports in November 2024 were valued at 24.01 billion US dollars or fell 1.70 percent compared to exports in October 2024, but compared to November 2023 the export value rose by 9.14 percent.

Non-oil and non-gas exports in November 2024 reached 22.69 billion US dollars, down 1.67 percent compared to those in October 2024 and up 9.54 percent compared to non-oil and non-gas exports in November 2023, Statistics Indonesia (known as BPS) said in a written statement on Monday.

According to BPS, cumulatively, Indonesia’s export value from January to November 2024 reached 241.25 billion US dolars or increased by 2.06 percent compared to that in the same period in 2023.

BPS further explained that in line with total exports, the value of non-oil and gas exports which reached 26.91 billion US dollars also increased by 2.24 percent.

Of the ten commodities with the largest non-oil and non-gas export values ​​in November 2024, some commodities experienced a decline, with the largest decline in animal/vegetable fats and oils of 317.9 million US dollars (10.48 percent).

Meanwhile, the largest increase was nickel and its products of 467.6 million US dollars (87.26 percent), BPS noted.

By sector, non-oil and non-gas exports from the processing industry in January–November 2024 rose 4.70 percent compared to those the same period in 2023, as did exports of agricultural, forestry, and fisheries products which rose 26.80 percent, while exports of mining and other products fell 8.83 percent.

The largest non-oil and non-gas exports in November 2024 were to China, which was 6.24 billion US dollars, followed by the United States at 2.34 billion US dolars, and India at 1.58 billion US dollars, with the contribution of the three reaching 44.82 percent.

Meanwhile, exports to ASEAN and the European Union (27 countries) were 4.09 billion US dollars and 1.37 billion US dollars, respectively.

According to the provinces of origin of goods, Indonesia’s largest exports in January–November 2024 came from West Java Province with a value of 34.73 billion dollars (14.40 percent), followed by East Java 23.62 billion dollars (9.79 percent) and East Kalimantan 23.05 billion dollars (9.55 percent).

 

Import development

According to BPS, Indonesia’s import value in November 2024 reached 19.59 billion dollars, down 10.71 percent compared to that in October 2024 or up 0.01 percent compared to that in November 2023.

Oil and gas imports in November 2024 were worth 2.57 billion dollars, down 29.88 percent compared to those in October 2024 or down 26.32 percent compared to those in November 2023.

Non-oil and non-gas imports in November 2024 were worth 17.02 billion dollars, down 6.87 percent compared to those in October 2024 or up 5.71 percent compared to those in November 2023.

Of the ten main goods categories of non-oil and non-gas in November 2024, the category of electrical machinery/equipment and their parts experienced the highest decline of 404.4 million dollars (15.49 percent) compared to that in October 2024.

Meanwhile, the sugar and confectionery category experienced the largest increase of 75.8 million dollars (25.19 percent).

The three largest countries supplying non-oil and non-gas products during November 2024 were China at 6.53 billion dollars (38.35 percent), Japan at 1.49 billion dollars (8.76 percent), and the United States at 0.76 billion dollars (4.47 percent).

Non-oil and non-gas imports from ASEAN were 2.75 billion dollars (16.18 percent) and the European Union at 0.99 billion dollars (5.80 percent).

The total import value by category of goods use during January–November 2024 increased compared to that in the same period the previous year.

The raw/auxiliary materials category increased the most at 7.31 billion dollars (4.96 percent), followed by capital goods at 1.41 billion dollars (3.92 percent) and consumer goods at 0.90 billion dollars (4.62 percent).

Indonesia’s trade balance in November 2024 experienced a surplus of 4.42 billion dollars, mainly from the non-oil and non-gas sector of 5.67 billion dollars, but the oil and gas sector had a deficit of 1.25 billion dollars.

Reporting by Indonesia Window