Indonesia Export Value Increased 53% Hitting US$22 billion by October 2021

Statistics Indonesia reported that the export performance in October 2021 has been growing. The rise in export can be seen in both the oil & gas and non-oil sectors.

Head of Statistics Indonesia, Margo Yuwono, stated that in October 2021, national export had reached US$22.03 billion in value. It consists of US$1.03 billion in the oil & gas sector and US$21 billion in other sectors.

“If we must compare with the data from October 2020 or year-on-year (YOY), then our export value in October this year has grown significantly; 53.35%,” he said in a press conference, Monday 15th November 2021.

When observed in detail, export from the oil & gas sector climbed to 66.84% on YOY in October 2021. Meanwhile, export from other unrelated sectors has grown to 52.75%.

If compared to the performance in September 2021 (month-to-month), Indonesia’s export value has increased by 6.89%. To be more precise, both oil & gas and non-oil sectors have grown 9.91% and 6.75% respectively on an MTM basis.

Then, the export value of the processing industry reached US$16.07 billion, growing 36.5% on an annual basis. Exports from mining and other sectors amounted to US$4.53 billion, rocketing to 190.57%. Only the agriculture, forestry, and fishery sectors experienced a contraction in growth. The export value in this sector was US$0.41 billion, down 3.32% YOY.

This positive performance is inseparable from the resumption of national economic activity. Statistics Indonesia noted that at-home activities have begun to slow down and more people have started engaging themselves with more outdoor economic activities such as working from the office and dining out. “The return of people’s mobility has positively impacted on economic activities,” said Margo.

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