Jakarta: Indonesian export value stood at US$17.70 billion in July 2021, decreasing by 4.53 percent from US$18.54 billion in the previous month, the Central Statistics Agency (BPS) announced on Wednesday.
However, compared to the same period last year, the country's export value increased by 29.32 percent from US$13.69 billion.
According to BPS, Indonesia's oil and gas exports declined by 19.55 percent last month, while the country's non-oil and gas exports dropped by 3.46 percent in the same period.
"So it was influenced by our monthly trend," BPS Chairman Margo Yuwono told a virtual press conference.
Indonesia’s official reserve assets stood at USD137.3 billion as of end-July 2021, increased from USD137.1 billion as of end-June 2021.
The position of official reserve assets was equivalent to finance 8.9 months of imports or 8.6 months of imports and servicing government’s external debt, and well above the international adequacy standard of three months imports.
The increase of official reserve assets in July 2021 was influenced, amongst others, by the Government’s global bond issuance as well as tax and services receipts.