Dip in Palm Oil Exports with a Rise in Coal and Iron in April 2024
Jakarta – A recent report from the Central Statistics Agency (BPS) indicates that Indonesia’s exports of crude palm oil (CPO) saw a decrease in April 2024. In contrast, the nation observed a climb in the export numbers for commodities such as coal and iron steel on a month-to-month basis.
Pudji Ismartini, BPS’s Deputy for Statistics of Distribution and Services, noted that Indonesia’s principal commodities contributed to 33.78% of the country’s total non-oil and gas exports, which amounted to US$18.27 billion in April 2024.
Pudji stated in a BPS release on Wednesday (15/5/2024), “The exports of coal as well as iron and steel experienced a monthly upsurge, while CPO and its derivatives underwent a decline.”
Detailing the figures, Pudji mentioned that CPO exports were recorded at US$1.39 billion in April 2024, which is a 10.49% decrease month-to-month, although a 0.91% increase was seen yearly. Meanwhile, iron and steel exports amounted to US$2.17 billion, experiencing a 1.91% monthly increase and a slight uptick of 0.22% yearly. Coal exports stood at US$2.6 billion, marking a 1.84% monthly growth, but a more significant yearly drop of 19.26%.
“The value of coal exports rose by US$47.03 million, or increased by 1.84% on a monthly scale,” she elaborated.
On a broader scale, April 2024’s total export value was US$19.62 billion, facing a 12.97% reduction month-to-month but concurrently, a 1.72% yearly increase. The decline in April’s exports was largely attributed to a downturn in the manufacturing industry sector.
During a press conference, Pudji Ismartini explained that the monthly export dip was specifically owing to a descent in the non-oil and gas export values, whereas oil and gas exports actually saw a boost.
“The value of oil and gas exports in April 2024 was about US$1.35 billion, marking a rise of 5.03% month-to-month, while non-oil and gas exports fell by 14.06% month-to-month to a value of US$18.27 billion,” she remarked.
Pudji noted that the decrease in non-oil and gas exports for April 2024 is mainly due to the reduced exports in precious metals and jewelry/precious stones, which contributed a 2.12% decrease; machinery and electrical equipment and parts, responsible for a 1.44% decrease; and vehicles and parts, with a 0.77% drop.