Indonesian Manufacturing Exports Down Due to Palm Oil Export Restrictions

Indonesia’s manufacturing sector experienced the largest export decline in May 2022 due to palm oil export restrictions, Deputy for Distribution Statistics and Services at Statistics Indonesia (BPS) Setianto informed at a press conference in Jakarta on June 15, the Antara news reported.  The country’s exports in May this year reached USD21.51 billion, a decrease by 21.3% month-on-month, Setianto said, although compared to May last year, current figure was 27% higher.

The decline in exports was seen in almost all of the sectors, Setianto said, including manufacturing; agriculture, forestry and fisheries; as well as mining. The largest decline was seen in manufacturing sector, by 25.9%.  Palm oil exports to India fell 100 percent in May to zero US dollars compared to USD376.60 million in April 2022, he informed. Palm oil exports to Pakistan fell by 90.2% to USD21.90 million from USD222.80 million.