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West Sumatra's Exports Rose 64.4 Percent MtM in August

Statistics Indonesia (BPS) West Sumatra Province (Sumbar) recorded the province's export value rising by 64.4 percent month-to-month (mtm) in August 2024. BPS West Sumatra Head Sugeng Arianto stated on Sep. 29, 2024, that exports from West Sumatra also increased by 7.94 percent year-on-year (yoy) that month.

In its monthly report, BPS noted that the vegetable and animal fats and oils group of commodities contributed the largest export value at Rp3 trillion, followed by the vegetable materials group with Rp134 billion, and the various chemical products group worth Rp123 billion

The increase in export value from West Sumatra Province, especially the vegetable and animal fats and oils group, was due to increased demand from destination countries such as India, Pakistan and others.

"West Sumatra is one of the largest suppliers of vegetable and animal fats and oils. Demand from India was also very high, which affected the [group of commodities'] export value," he said.

Sugeng added that demand from destination countries included not only demand for finished goods, but also demand for a quite high demand for  semi-finished products such as crude palm oil.

Meanwhile, Bank Indonesia West Sumatra Representative Office Head Mohamad Abdul Majid Ikram stated that the increase in exports from the province in terms of volume and value showed a positive trend.

"This increase in export volume reflects good export performance, while the export value value is more a reflection of world price factors," he said.

Majid also said that the increase in price and volume indicated that the price of CPO, coal, and other types of commodities showed a positive trend at the global level.

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