In October 2024, Indonesia recorded a significant export achievement with a value of US$24.41 billion, with an increase of 10.69 percent compared to September 2024.
Compared to October 2023, Indonesia's exports also increased by 10.25 percent.
Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti explained that Indonesia's non-oil and gas exports in October 2024 were recorded at US$23.07 billion.
This figure increased by 10.35 percent compared to September 2024, and experienced a greater increase of 11.04 percent when compared to the same period last year.
Of the ten commodities with the largest non-oil and gas export value in October 2024, most experienced a significant increase.
One of the highest increases was exports of animal/vegetable fats and oils, which increased by US$1,046.5 million or around 52.67 percent.
"While those that experienced a decline were precious metals and jewelry/gems amounting to US$102.0 million (14.46 percent)," Amalia said on Friday (November 15).
By sector, Indonesia's non-oil and gas exports from January to October 2024 showed positive developments. Exports from the manufacturing sector recorded an increase of 3.75 percent compared to the same period in 2023, indicating an improvement in the manufacturing sector.
In addition, exports of agricultural, forestry and fishery products increased significantly by 23.78 percent, showing the great potential of these sectors in supporting Indonesia's exports.
However, the mining export sector experienced a decline of 8.65 percent. This decline could be influenced by unstable global commodity prices or a decline in demand for some mining products.
Indonesia's largest export destination country in October 2024 was China, which received US$5.66 billion worth of Indonesian exports, followed by the United States with an export value of US$2.34 billion, and India which reached US$2.02 billion. These three countries accounted for nearly 44 percent of Indonesia's total non-oil and gas exports.
In addition, Indonesia's exports to ASEAN were recorded at US$4.32 billion, while exports to the European Union reached US$1.59 billion. This shows that the Asian market remains the main destination for Indonesian exports, although there are also significant contributions from the European and American markets.
Geographically, Indonesia's largest exports came from West Java Province with a value of US$31.52 billion (14.51 percent of total exports), followed by East Java with US$21.44 billion (9.87 percent) and East Kalimantan with US$20.86 billion (9.60 percent).
Cumulatively, Indonesia's export value from January to October 2024 reached US$217.24 billion, up 1.33 percent compared to the same period in 2023.
Meanwhile, non-oil and gas exports were recorded at US$204.21 billion, an increase of 1.48 percent.
This increase provides optimism for Indonesia's future trade prospects, although global challenges such as commodity price fluctuations and geopolitical tensions still need to be watched out for.
