Indonesia’s exports have seen negative year-over-year growth since the second half of 2022. However, the negative spiral has been breached since July 2024. The only month exports showed a slight decline was September (-3%). In July (0%), August (11%), and October (7%), exports were stable or increased year over year. In these four months, the total export volume amounts to 72,624 MT, 4% ahead of 2023. The year total is now at 165,956 MT, still 5% behind 2023.
In October, exports to the US grew by 1%, exports to Japan fell by 6%, but exports to the other top five markets, China (+189%), Canada (+128%), and the Netherlands (+56%) increased. In the year total, the US (-5%), Japan (-2%), and China (-35%) are still behind, but the Netherlands (+37%) and Canada (+54%) grew. Except for Taiwan (-9%), also the other top 10 markets, the UK (+45%), Russia (+34%), Malaysia (+22%), and Belgium (46%), record year-over-year growth. The US still accounts for 67% of total exports, Japan 14%, and China 5%. The EU is a block that represents 5% of total exports. All other markets represent 1% or less.
In terms of products, in October 2024, exports of raw L. vannamei reached almost 10,000 MT (50% of the total) and increased by 9% yearly. Exports of value-added shrimp dropped by 6%, exports of raw wild-caught shrimp increased by 49%, and exports of raw P. monodon dropped by 8%. In terms of the year total, exports of raw L. vannamei are still behind 8%, value-added is behind 3%, wild-caught shrimp is ahead 6%, and raw P. monodon is behind 4%.
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