Exports in May increased 17.47 percent from the previous month mainly thanks to a higher price and volume of shipped crude palm oil (CPO), the Central Statistic Agency (BPS) reported Tuesday.
"CPO is the biggest contributor to the increase due to its higher price and volume, making up for 15.94 percent of the total exports in May," deputy chairman for distribution and services statistics Ali Rosidi said Tuesday.
Ali said May exports rose to US$12.89 billion from $0.97 billion recorded in the previous month. Non-oil and gas exports were valued at $9.67 billion in the same month, up from $8.49 billion booked in April.
The country shipped 1.8 million tons of CPO in May with a total value of $1.9 billion, from 655,000 tons with the value of $690.1 million in April, Ali said.
May CPO exports were driven up by a drop in export tax to 15 percent in May, he said.
CPO exports in April dropped 62 percent due to the government's announcement that the export tax would decrease 5 percent in May from 20 percent previously. CPO exports in April fell 7.78 percent from March.
The main destinations for May's non-oil and gas sector exports were the United States, followed by Japan and Singapore, with total shipment values of $1.11 billion, $1.06 billion and $871 million respectively.
The three accounted for 31.48 percent of the country's total exports.
Of the sector's exported commodities, mineral products including nickel and bauxite dropped the most in the period.
The country also saw an increase in oil and gas sector exports, with $3.21 billion in value shipped, up from $2.48 billion in the previous month, on the back of higher crude oil exports.
Total exports in the January to May period reached $57.6 billion, an increase of 30.03 percent from $44.52 billion in the same period last year.
The country also recorded an increase in imports to $11.66 billion in May from $11.50 billion in April.
Jet aircraft spare parts contributed most to non-oil and gas imports, with a value of $1.50 billion, followed by machinery and electricity products ($1,17 billion), steel and iron products ($799.9 million), automotive spare parts ($411 million) and chemical products ($461.6 million).
In the January to May period, Japan was Indonesia's biggest contributor, sending $5.73 billion in value, followed by China with $5.71 billion and Singapore with $4.74 billion.