Exports in February 2024 reached US$19.31 billion & Imports in February 2024 reached US$18.44 billion

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Release Date	:	March 15, 2024
File Size	:	3.52 MB

Abstract

A. Exports

The value of Indonesia’s exports in February 2024 reached US$19.31 billion, decreased 5.79 percent compared to exports in January 2024 and decreased 9.45 percent compared to February 2023.
Non-oil and gas exports in February 2024 reached US$18.09 billion, decreased 5.27 percent compared to non-oil and gas exports in January 2024 and decreased 10.15 percent compared to February 2023.
Cumulatively, Indonesia’s exports during January–February 2024 reached US$39.80 billion, decreased 8.81 percent over the same period in 2023. Likewise, non-oil and gas exports reached US$37.19 billion or decreased 9.24 percent.
Among the top ten commodities of non-oil and gas exports in February 2024, the highest decrease was iron and steel, in amount of US$622.5 million or decreased 27.08 percent from January 2024, while the highest increase was ores, slag, and ash, in amount of US$223.5 million or increased 34.01 percent.
By industry classification, exports of manufacturing products during period January–February 2024 decreased by 7.64 percent; exports of mining and others also decreased by 15.95 percent; while exports of agriculture, forestry, and fisheries increased by 8.18 percent compared to the same period in 2023.
The main country destinations of non-oil and gas exports in February 2024 were China at US$4.06 billion, United States at US$2.10 billion, and India at US$1.53 billion, with the contribution of the three reached 42.52 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$3.10 billion and US$1.41 billion, respectively.
According to the province of origin, the largest exports of Indonesia in January– February 2024 came from West Java with a value of US$5.95 billion (14.95 percent), followed by East Kalimantan at US$4.17 billion (10.47 percent) and East Java at US$3.80 billion (9.55 percent).

B. Imports

Imports of Indonesia in February 2024 were worth US$18.44 billion, slightly decreased by 0.29 percent compared with January 2024, yet rose by 15.84 percent compared with February 2023.
Imports of oil and gas in February 2024 were worth US$2.98 billion, increased by 10.42 percent compared with January 2024, and increased by 23.82 percent compared with February 2023.
Imports of non-oil and gas in February 2024 were worth US$15.46 billion, decreased by 2.12 percent compared with January 2024, yet rose by 14.42 percent compared with February 2023.
The most significant decrease in imports of non-oil and gas among the biggest ten commodities in February 2024 was electrical machinery and equipment and parts thereof which decreased by US$112.0 million (3.91 percent).
The largest trading partner countries of non-oil and gas imports in January–February 2024 were China US$11.87 billion (37.98 percent), Japan US$2.24 billion (7.17 percent), and Thailand US$1.87 billion (5.98 percent). Imports of non-oil and gas from ASEAN and EU countries were US$5.54 billion (17.73 percent) and US$1.92 billion (6.15 percent), respectively.
Compared with the same period last year, imports of intermediate goods in January–February 2024 experienced the highest rise with a US$1,087.2 million (4.23 percent) increase, followed by the increase of capital goods by US$812.5 million (14.20 percent) and consumption goods by US$672.9 million (22.73 percent).
Indonesia’s balance of trade in February 2024 experienced a surplus of US$0.87 billion, which mainly affected by a surplus of non-oil and gas of US$2.63 billion. On the other hand, there was a deficit of US$1.76 billion in oil and gas

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