Exports in November 2023 reached US$22.00 billion & Imports in November 2023 reached US$19.59 billion

Release Date	:	December 15, 2023
File Size	:	5.22 MB

Abstract

A. Exports

The value of Indonesia’s exports in November 2023 reached US$22.00 billion, decreased 0.67 percent compared to exports in October 2023 and decreased 8.56 percent compared to November 2022.
Non-oil and gas exports in November 2023 reached US$20.72 billion, decreased 0.29 percent compared to non-oil and gas exports in October 2023 and decreased 9.76 percent compared to November 2022.
Cumulatively, Indonesia’s exports during January–November 2023 reached US$236.41 billion, decreased 11.83 percent over the same period in 2022. Likewise, non-oil and gas exports reached US$221.96 billion or decreased 12.47 percent.
The highest decrease of non-oil and gas exports in November 2023 was iron and steel commodity, in amount of US$167.1 million or decreased 6.82 percent from October 2023. The highest increase was animal or vegetable fats and oils, in amount of US$159.7 million or increased 6.56 percent.
By industry classification, exports of manufacturing products during period January– November 2023 decreased by 9.70 percent; exports of agriculture, forestry, and fisheries also decreased by 10.55 percent; along with exports of mining and others decreased by 21.47 percent compared to the same period in 2022.
The main country destinations of non-oil and gas exports in November 2023 were China at US$5.41 billion, India at US$2.01 billion, and United States at US$1.94 billion, with the contribution of the three reached 45.16 percent. Meanwhile, exports to ASEAN and the European Union (27 countries) amounted to US$3.78 billion and US$1.29 billion, respectively.
According to the province of origin, the largest exports of Indonesia in January– November 2023 came from Jawa Barat with a value of US$33.76 billion (14.28 percent), followed by Kalimantan Timur at US$25.78 billion (10.91 percent) and Jawa Timur at US$20.33 billion (8.60 percent).

B. Imports

Imports of Indonesia in November 2023 were worth US$19.59 billion, increased by 4.89 percent compared with October 2023, and rose by 3.29 percent compared with November 2022.
Imports of oil and gas in November 2023 were worth US$3.49 billion, increased by 8.79 percent compared with October 2023, and increased by 24.41 percent compared with November 2022.
Imports of non-oil and gas in November 2023 were worth US$16.10 billion, increased by 4.08 percent compared with October 2023, but slightly fell by 0.37 percent compared with November 2022.
The most significant increase in imports of non-oil and gas in November 2023 was iron and steel which increased by US$138.7 million (16.34 percent). On the contrary, precious metals and jewellery/precious stones experienced the highest fall with US$162.1 million (54.11 percent) decrease.
The largest trading partner countries of non-oil and gas imports in January– November 2023 were China US$56.74 billion (33.31 percent), Japan US$15.20 billion (8.92 percent), and Thailand US$9.36 billion (5.50 percent). Imports of nonoil and gas from ASEAN and EU countries were US$28.43 billion (16.69 percent) and US$12.98 billion (7.62 percent), respectively.
Compared with the same period last year, imports of intermediate goods in January– November 2023 experienced the highest fall with a US$19,464.7 million (11.67 percent) decrease. In contrast, imports of capital goods and consumption goods experienced increases with US$3,188.7 million (9.74 percent) and US$1,471.0 million (8.16 percent) rises, respectively.
Indonesia’s balance of trade in November 2023 experienced a surplus of US$2.41 billion, which mainly affected by a surplus of non-oil and gas of US$4.62 billion. On the other hand, there was a deficit of US$2.21 billion in oil and gas.

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