Exports in March 2023 reached US$23.50 billion and Imports in March 2023 reached US$20.59 billion

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Release Date	:	April 17, 2023
File Size	:	3.22 MB

Abstract

A. EXPORTS

The value of Indonesia’s exports in March 2023 reached US$23.50 billion, increased 9.89 percent compared to exports in February 2023 but decreased 11.33 percent compared to March 2022.
Non-oil and gas exports in March 2023 reached US$22.16 billion, increased 9.71 percent compared to non-oil and gas exports in February 2023 but decreased 11.70 percent compared to March 2022.
Cumulatively, Indonesia’s exports during January–March 2023 reached US$67.20 billion, increased 1.60 percent over the same period in 2022. Likewise, non-oil and gas exports reached US$63.19 billion or increased 0.55 percent.
The highest increase of non-oil and gas exports in March 2023 was mineral fuels commodity, in amount of US$568.8 million or increased 14.29 percent from February 2023. The highest decrease was animal or vegetable fats and oils, in amount of US$260.0 million or decreased 10.53 percent.
By industry classification, exports of manufacturing products during period January–March 2023 decreased by 5.40 percent; exports of agriculture, forestry and fisheries also decreased by 5.69 percent; while exports of mining and others increased by 28.10 percent compared to the same period in 2022.
The main country destinations of non-oil and gas exports in March 2023 were China at US$5.67 billion, United States at US$1.97 billion, and Japan at US$1.78 billion, with the contribution of the three reached 42.51 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$4.09 billion and US$1.53 billion, respectively.
According to the province of origin, the largest exports of Indonesia in January–March 2023 came from Jawa Barat with a value of US$9.19 billion (13.68 percent), followed by Kalimantan Timur at US$7.95 billion (11.83 percent), and Jawa Timur at US$6.31 billion (9.38 percent).

B. IMPORTS

Imports of Indonesia in March 2023 were worth US$20.59 billion, rose by 29.33 percent compared with February 2023, yet decreased by 6.26 percent compared with March 2022.
Imports of oil and gas in March 2023 were worth US$3.02 billion, increased by 25.28 percent compared with February 2023, yet decreased by 13.67 percent compared with March 2022.
Imports of non-oil and gas in March 2023 were worth US$17.57 billion, increased by 30.05 percent compared with February 2023, but fell by 4.86 percent compared with March 2022.
The most significant increase in imports of non-oil and gas in March 2023 was electrical machinery/equipments and parts thereof which rose by US$582.9 million (29.45 percent). On the contrary, cereals experinced the highest fall with US$87.6 million (19.47 percent) decrease.
The largest trading partner countries of non-oil and gas imports in January–March 2023 were China US$15.04 billion (32.26 percent), Japan US$4.25 billion (9.12 percent), and Thailand US$2.92 billion (6.26 percent). Imports of non-oil and gas from ASEAN and EU countries were US$8.07 billion (17.31 percent) and US$3.38 billion (7.24 percent), respectively.
Compared with the same period last year, imports of intermediate goods in January–March 2023 experienced the highest fall with a US$2,884.0 million (6.60 percent) decrease. On the other hand, imports of consumption and capital goods experienced increases with a US$125.5 million (2.73 percent) and US$896.5 million (10.50 percent) rise, respectively.
Indonesia’s balance of trade in March 2023 experienced a surplus of US$2.91 billion, which mainly affected by a surplus of non-oil and gas of US$4.58 billion. On the other hand, there was a deficit of US$1.67 billion in oil and gas.

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