Commodity Prices Fall, Customs and Excise Revenue in January 2023 Drops by 3.39%

JAKARTA. The realization of customs and excise revenue until the end of January 2023 fell 3.39% from January 2022 to IDR 24.11 trillion. Compared to the 2023 target of IDR 303.19 trillion, this realization has only reached 7.59%.

Actually, this decline only occurred in export duty revenues, whose realization amounted to IDR 1.16 trillion, down 68.13% from last year.

Meanwhile, excise and import duty revenues still recorded positive growth, at 4.85% and 22.56%, respectively, with realized revenues of IDR 4.09 trillion and 18.86 trillion.

Minister of finance Sri Mulyani said the decline in export duty was due to the development of Crude Palm oil (CPO) prices which experienced moderation.

While the increase in import duties in January 2023 was due to the weakening of the rupiah compared to January 2022. In addition, the increasing number of customs determination letters also provided significant additional revenue, amounting to Rp 227 billion.

On the other hand, the increase in excise revenue occurred due to the impact of the adjustment of tobacco excise tariffs that came into effect in January 2023.

In addition, the government also said that the increase in excise revenue resulted from the improvement in the national economy, especially people's purchasing power and relaxation of tourist destination areas and strengthening supervision of the circulation of counterfeit excisable goods.

In detail, excise revenue in January 2023 consists of excise on tobacco products amounting to IDR 18.41 trillion, ethyl alcohol IDR 0.01 trillion, and drinks containing ethyl alcohol (MMEA) IDR 0.43 trillion. (ASP)