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July 2021, Indonesia’s Export Value Drops 4.53%

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The Central Statistics Agency (BPS) recorded Indonesia’s export performance in July 2021 at US$17.70 billion, or down 4.53% from June 2021 (month to month/mtm) which reached US$18.54 billion. However, when compared to July 2020 (year on year/yoy), Indonesia’s export value still experienced a positive growth of 29.32%.

“Our exports in July 2021 reached US$17.70 billion, down 4.53% from June 2021. The decline in exports was due to the decline in oil and gas exports by 19.55% while non-oil and gas also fell by 3.46%,” said Head of BPS Margo Yuwono when delivering a virtual release, Wednesday (18/8).

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He added that the decline in the value of exports on a monthly basis occurred because exports in June were quite high, which is a seasonal factor. Because in May 2021 there will be an Eid holiday which makes national exports experience a decline in activity.

Oil and gas exports in July 2021 were recorded at US$0.99 billion, lower than the export value in June 2021 which reached US$1.23 billion. Meanwhile, when compared to July 2020 which was recorded at US$0.66 billion, Indonesia’s export value grew 50.08%.

Then the non-oil and gas exports in July 2021, which amounted to US $ 16.71 billion, were recorded lower than the realization of the value of non-oil exports in June 2021, which was US $ 17.31 billion. Meanwhile, when compared to July 2021 which was recorded at US$13.03 billion, the value of Indonesia’s non-oil and gas exports still grew 28.26%.

“So, compared to yoy, our exports still increased significantly by 29.32%,” explained Margo.

Meanwhile, Indonesia’s non-oil and gas exports on a monthly basis also experienced a decline. Agricultural exports were recorded at US$0.29 billion, or -12.08% (mtm); processing industry US$13.56 billion, or -3.63% (mtm); and mining and others US$2.86 billion, or -1.65% (mtm).

Meanwhile, when viewed on an annual basis, agricultural exports were recorded at -17.99% (yoy); processing industry grew by 20.15% (yoy); and mining grew 105.69% (yoy). “So, on a yoy basis, everything grew positively except for agriculture,” said Margo.

The decline in the value of agricultural exports was due to a sharp decline in the group of medicinal plants, aromatics and spices, bird’s nest, and cloves in July 2021.

Meanwhile, BPS also recorded that the largest non-oil and gas export in July 2021 was to China, which was US$3.57 billion. Then followed by the United States at US$2.02 billion and Japan at US$1.19 billion, with the contribution of the three reaching 40.57%. Meanwhile, exports to ASEAN and the European Union amounted to US$3.18 billion and US$1.55 billion, respectively. (OL-6)


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