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Indonesia Exports Rise to Record High By 30.15 %

INDONESIA: Exports is increased  by 30.15 percent from a year earlier to an all-time high of USD 27.91 billion in August of 2022, easily beating market consensus of a 19.19 percent rise and representing the 18th straight month of double-digit increase.

On the back of high commodity prices and signs of a recovery in global demand as many countries eased further pandemic restrictions.

Sales of non-oil and gas exports rose by 28.39 percent to USD 26.19 billion; while oil and gas of indonesia exports jumped by 64.46 percent to USD 1.72 billion, with shipments rising sharply for both oil products (123.06 percent) and gas (55.37 percent).

For the first eight months of the year, exports soared 35.42 percent year-on-year to USD 194.60 billion.

While Indoneisa Imports  growth  expanded 32.81 percent year-on-year to USD 22.15 billion in August of 2022, topping market expectations of 30.6 percent and following a 39.86 percent jump in July.

Which was the steepest pace of arrivals since December 2021. The latest figure continued to highlight robust domestic demand as the economy recovered further from the COVID-19 hit

Arrivals of non-oil and gas gained 26.11 percent to USD 18.45 billion; and those of oil and gas imports soared 80.63 percent to USD 3.70 billion, led by crude oil (77.44 percent), oil products (95.85 percent), and gas (36.62 percent).

For the January to August period, imports jumped 29.84 percent to USD 159.68 billion, with purchases of non-oil and gas growing 22.71 percent and those of oil and gas climbing 79.81 percent.