Exports in March 2024 reached US$22.43 billion & Imports in March 2024 reached US$17.96 billion

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Release Date	:	April 22, 2024
File Size	:	1.74 MB

Abstract

A. Exports

The value of Indonesia’s exports in March 2024 reached US$22.43 billion, increased 16.40 percent compared to exports in February 2024 but decreased 4.19 percent compared to March 2023.
Non-oil and gas exports in March 2024 reached US$21.15 billion, increased 17.12 percent compared to non-oil and gas exports in February 2024 but decreased 4.21 percent compared to March 2023.
Cumulatively, Indonesia’s exports during January–March 2024 reached US$62.20 billion, decreased 7.25 percent over the same period in 2023. Likewise, non-oil and gas exports reached US$58.30 billion or decreased 7.53 percent.
All of the top ten commodities of non-oil and gas exports in March 2024 experienced increase, and the highest increase was precious metals and jewellery/ precious stones, in amount of US$925.8 million or increased 206.58 percent from February 2024.
By industry classification, exports of manufacturing products during period January–March 2024 decreased by 4.92 percent; exports of mining and others also decreased by 17.31 percent; while exports of agriculture, forestry, and fisheries increased by 8.05 percent compared to the same period in 2023.
The main country destinations of non-oil and gas exports in March 2024 were China at US$4.75 billion, United States at US$2.19 billion, and India at US$1.78 billion, with the contribution of the three reached 41.22 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$3.78 billion and US$1.42 billion, respectively.
According to the province of origin, the largest exports of Indonesia in January– March 2024 came from Jawa Barat with a value of US$9.15 billion (14.71 percent), followed by Jawa Timur at US$6.33 billion (10.18 percent) and Kalimantan Timur at US$6.29 billion (10.11 percent).

B. Imports

Imports of Indonesia in March 2024 were worth US$17.96 billion, decreased by 2.60 percent compared with February 2024, and fell by 12.76 percent compared with March 2023.
Imports of oil and gas in March 2024 were worth US$3.33 billion, increased by 11.64 percent compared with February 2024, and increased by 10.34 percent compared with March 2023.
Imports of non-oil and gas in March 2024 were worth US$14.63 billion, decreased by 5.34 percent compared with February 2024, and fell by 16.72 percent compared with March 2023.
The most significant decrease in imports of non-oil and gas among the biggest ten commodities in March 2024 was machinery and mechanical appliances and part thereof which decreased by US$473.0 million (17.18 percent). In contrast, cereals experienced the highest rise by US$182.2 million (25.97 percent).
The largest trading partner countries of non-oil and gas imports in January-March 2024 were China US$16.44 billion (35.83 percent), Japan US$3.30 billion (7.19 percent), and Thailand US$2.70 billion (5.88 percent). Imports of non-oil and gas from ASEAN and EU countries were US$8.30 billion (18.09 percent) and US$2.79 billion (6.08 percent), respectively.
Compared with the same period last year, imports of consumption goods in January-March 2024 experienced the highest rise with a US$760.4 million (16.11 percent) increase, followed by the increase of capital goods by US$6.2 million (0.07 percent). In contrast, consumption goods experience a decrease by US$821.0 million (2.01 percent).
Indonesia’s balance of trade in March 2024 experienced a surplus of US$4.47 billion, which mainly affected by a surplus of non-oil and gas of US$6.51 billion. On the other hand, there was a deficit of US$2.04 billion in oil and gas.

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