Indonesia’s Export Growth Greatly Increases in October 2021

JAKARTA, KOMPAS.com – Indonesia’s total exports reached $22.03 billion in October 2021, an increase of 53.35 percent year-on-year (YoY), according to the country’s Statistic Agency (BPS) on Monday, November 15.

The head of BPS Margo Yuwono said the total exports comprise $1.03 billion in the oil and gas sector and $21 billion in non-oil and gas. The oil and gas exports rose 66.84 percent YoY, while the non-oil and gas exports rose 52.75 percent.

“If we compare to the same period last year, our exports grew quite high at 53.35 percent in October this year,” Margo told a press conference.

Also read: Indonesia’s Export-Oriented, Labor-Intensive Industries To Resume Fully Operations Despite Covid-19

Meanwhile, the export value grew 6.89 percent month-to-month if compare to September 2021.

The oil and gas and the non-oil and gas sectors increased by 9.91 percent month-to-month and 6.75 percent month-to-month, respectively.

Almost all business sectors experienced annual growth. The export value in the processing industry grew 36.5 percent to $16.07 billion on an annual basis and exports from the mining and other sectors amounted to $4.53 billion, increasing 190.57 percent.

Also read: Indonesia to Open Export-Oriented Essential Industries by Aug. 17

Only the agriculture, forestry, and fishery sectors experienced a contraction in growth. The export value in this sector stood at $0.41 billion, or down 3.32 percent YoY.

The export growth in the country is fueled by national economic activity. According to BPS, activities at home have begun to decline and at the same time activities in various other places are growing. Some areas even have returned to normal levels.

“The people’s mobility has been improved and brings impact on economic activity,” Margo said.

(Writer: Rully R. Ramli | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2021/11/15/123100526/melesat-53-persen-ekspor-indonesia-oktober-2021-tembus-22-miliar-dollar-as.