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BPS: North Sumatra's Exports Rose in August
WINDONESIA October 16, 2024
Belawan New Container Terminal (BNCT) is operated in comparison by STIC in shipping goods to the Asian market. (Antara/Belawan New Container Terminal)
Statistics Indonesia (BPS) North Sumatra Province noted that the export value from North Sumatra rose by 7.4 percent month-to-month (mtm) as of August 2024.
"In addition, North Sumatra's exports also increased by 12.66 percent compared to August 2023," BPS North Sumatra Principal Expert Statistician oMisfaruddin stated in Medan City, North Sumatra Oct. 1, 2024.
Misfaruddin said North Sumatra's export value through loading ports as of August 2024 reached US$1.04 billion. The province's export value is dominated by the industrial sector with 93.38 percent, rising from 92.76 percent in July 2024, and followed by the agricultural sector with 6.62 percent.
Furthermore, the primary destinations of exports from North Sumatra as of August 2024 is China with US$191.95 million, or 18.43 percent of the province's total export value, the United States with US$124.34 million or 11.94 percent, and India with US$72.29 million or 6.94 percent.
"From the three countries, their [combined] dominant market share reached 37.31 percent," Misfaruddin said.
Meanwhile, the share of export value from North Sumatran exports to Association of Southeast Asian Nations (ASEAN)) member countries reached 14.77 percentor US$158.84 million, while countries in Asia outside ASEAN accounted for 36.75 percent of the province's export value or US$382.73 million.
Meanwhile, North Sumatra's import value in August 2024 went down 11.4 percent mtm to US$565.31 million.
"However, compared to August 2023, it still increased by 3.8 percent from US$482.53 million to US$500.87 million," Misfaruddin remarked.
He added that the dominant imported goods were auxiliary raw materials with 74.73 percent, consumer goods with 10.41 percent, and capital goods with 14.86 percent.
Source: www.antaranews.com