Friday, April 19, 2024

Manufacturing exports reach Rp2.932 trillion in 2023, basic metal industry dominates

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Audina Nur




The Ministry of Industry (Kemenperin) reports that the performance of manufacturing exports reached US$186.98 billion or equivalent to Rp2,932 trillion in 2023. Non-oil and gas exports contributed 72.24 percent of the total national export value of US$258.82 billion in 2023.

Minister of Industry Agus Gumiwang Kartasasmita stated that the non-oil and gas processing industry continues to be a leading sector in contributing to the achievement of national export performance. “We are committed to increasing the value of manufacturing exports, including diversifying its products, which certainly have competitiveness and high added value,” Agus said as quoted on Friday, February 16, 2024.

The performance of these exports significantly contributed to the formation of a trade surplus in the manufacturing industry amounting to US$17.39 billion in 2023. The five sectors that contributed the most to the national manufacturing export value in 2023 were the basic metal industry at US$42 billion, followed by the food and beverage industry at US$41.69 billion. Furthermore, the metal goods, computer, electronic, optical, and electrical equipment industry at US$18.12 billion, the chemical, pharmaceutical, and traditional medicine industry at US$17.30 billion, and the transportation equipment industry at US$13.12 billion. “For 2024, we are targeting US$193.4 billion. We are optimistic that we can achieve this,” Agus said.

To achieve this year’s export target, the government has formed an Export Enhancement Task Force. The roles of this task force are outlined in Presidential Decree No 24/2023 concerning the National Export Enhancement Task Force. On the other hand, the commitment to industrial downstreaming will continue to be intensified to increase the added value of natural resources in Indonesia to become products with high market value, both to meet domestic and export market needs. Additionally, they also encourage industries to diversify their exported products with high complexity or high added value resulting from nickel downstreaming. “New products exported with high complexity mostly consist of basic metal products resulting from nickel downstreaming such as stainless steel ingots and CRC, as well as two-wheeled vehicles. Others are new products with low complexity such as aluminum oxide and CPO derivatives,” Agus concluded.

Audina Nur






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