Indonesia’s leading non-oil and gas export commodities, including coal, iron and steel, and Crude Palm Oil (CPO) and their derivatives, have significantly contributed to the country’s export revenue, accounting for 33.78 percent of total non-oil and gas exports in April 2024. The Central Statistics Agency (BPS) revealed these figures during a press conference on Wednesday, May 15.
Pudji Ismartini, the Deputy for Distribution and Services of BPS, highlighted that while the export value of coal, iron and steel saw a monthly increase, CPO and its derivatives experienced a decrease. The export value of CPO and its derivatives dropped by 10.49 percent month-on-month but rose by 0.91 percent compared to the previous year.
In April 2024, the export value of CPO reached 1.39 billion US dollars, contributing 7.63 percent to non-oil and gas exports. Meanwhile, coal exports totaled US$2.61 billion, making up 14.27 percent of total non-oil and gas exports. The export value of iron and steel stood at 2.17 billion US dollars, accounting for 11.88 percent of total non-oil and gas exports.
Overall, non-oil and gas exports in April 2024 amounted to 18.27 billion US dollars, reflecting a 14.06 percent decrease compared to the previous month. However, there was a 1.33 percent increase when compared to April 2023. Indonesia’s trade balance in April 2024 showed a surplus of US$3.56 billion, driven by a surplus in the non-oil and gas sector but offset by a deficit in the oil and gas sector.
The fluctuations in export values of these key commodities shed light on Indonesia’s export performance and its impact on the overall trade balance.
