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Exports of precious metals and jewellery/precious stones to India Soar Amid Exports Decline

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Release Date	:	March 1, 2023
File Size	:	3.19 MB

Abstract

At the beginning of 2023, Jakarta’s exports declined. This decline was a situational pattern of exports in January, which always tend to be lower than in December. This condition was a seasonal holiday blues pattern, with restocking and slowdowns for the first three months of the year.

January 2023 exports were recorded at US$ 914.35 million, which decreased by minus 6.20 percent. Amid the decline, export performance for precious metals and jewellery/precious stones, articles of apparel and clothing accessories (not knitted), miscellaneous chemical products, electrical machinery and equipment and parts thereof continued to grow positively. The high demand for imports of precious metals and jewellery/precious stones from India was the reason.

In line with month-to-month export growth, year-on-year exports also declined. Exports in January 2023 fell (minus 10.36 percent) compared to the same month the previous year. The decline was due to decreasing demand for miscellaneous chemical products (minus 28.59 percent).

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