Indonesia Trade Balance’s in Surplus of US$161.3 Million in October 2019: BPS
The Central Statistics Agency (BPS) has reported that Indonesia’s export value stood at US$14.93 billion in October 2019, increasing by 5.92 percent compared to that in September 2019 at US$14.09 billion.
Meanwhile, Indonesia’s import is at US$14.77 billion in October, rising by 3.75 percent compared to that in September 2019.
“Thus, Indonesia secured a trade balance surplus of US$161.3 million in October 2019,” Head of the BPS Suhariyanto said in his press statement at the BPS Headquarters, Jakarta, Friday (15/11).
According to Suhariyanto, the surplus is likely to counterbalance trade balance deficit in the future.
“The increase of export in October was caused by non-oil and gas export that grows by 5.56 percent to US$14,007.7 million from previously at Rp13,269.5 million in September 2019. Non-oil and gas export alone experienced an increase of 11.58 percent, from US$830 million to US$926.1 million,” he said.
The volume of export in October, he added, also increased by 12.47 percent compared to that in September 2019 caused by an increase of 12.42 percent of non-oil and gas export volume and an increase of 13.78 percent of oil and gas export volume.
Compared to the figure in the same month last year, the export volume in general increased by 8.45 percent, while non-oil and gas export increased by 10.31 percent, and oil and gas export decreased by 25.05 percent.
Suhariyanto asserted that the largest contributor to the increase of non-oil and gas export in October 2019 is mineral fuel with US$144.6 million (8.24 percent). Meanwhile, the most significant decline is on ships, boats, and floating structures with US$74.1 million (86.68 percent).
The increase was reported in several Indonesia major trading partner countries for exports, among others, China with US$359.7 (14.94 percent); Japan with US$102.4 million (8.99 percent); Thailand with US$79.8 million (18.06 percent); Malaysia with US$77.8 million (13.01 percent); India with US$76.5 million (8.23 percent); Australia with US$54.2 million (35.16 percent); the United States with US$48 million (3.24 percent); Italy with US$42.4 million (31.50 percent); Germany with US$24.6 million (12.84 percent); and the Netherland with US$24.4 million (11.06 percent).
Regarding Indonesia’s import value, Suhariyanto added, the figure in October 2019 stood at US$14,772.5 million or increased by US$509.1 million (3.57 percent) compared to that in September 2019. The increase is due to a rise of US$163.4 million (10.26 percent) of oil and gas import and a rise of US$345.7 million (2.73 percent) of non-oil and gas import.
The rise of oil and gas import was triggered by an increase of oil and gas products import by US$132.2 million (12.60 percent) and US$34 million (18.78) respectively. On the other hand, crude oil import declined by US$2.8 million (0.77 percent).
The most significant increase of import of non-oil and gas sectors on October 2019 was on Electrical Equipment and Machinery recorded at US$122.8 million, increasing 7.26 percent as against September 2019, while the most significant decline is on Electrical Equipment and Aircraft Engines with US$109.9 million (4.65 percent).
The Head of BPS went on to say that cumulative counting of import value from January to October 2019 was recorded at US$140,893.5 million or decreased by 9.94 percent (US$15,551 million) compared to that in the same period in 2018. The decrease of oil and gas import and non-oil and gas import reached US$7,359.1 million (29.46 percent) and US$8,191.9 million (6.23 percent) respectively.
During the period from January to October 2019, China was the country with the highest non-oil and gas imports to Indonesia (US$36.32 billion or 29.46 percent), followed by Japan with US$13.28 billion (10.77 percent), and Thailand with US$7.92 billion (6.42 percent). (BPS Public Relations/ES)
Translated by : Rany Anjany Subachrum
Edited by : M. Ersan Pamungkas