Indonesia experienced a trade surplus of US$3.26 billion in July of 2020, said chairman of the statistic bureau today (08/18), higher than June surplus $2.7 billion - Photo by TheInsiderStories

JAKARTA (TheInsiderStories) – Indonesia experienced a trade surplus of US$3.26 billion in July of 2020, said chairman of the statistic bureau today (08/18). The amount higher than June surplus $2.7 billion.

Suhariyanto said in a virtual conference, the value of exports was recorded at $13.73 billion, up 14.33 percent from June as oil and gas rose due to higher oil and gas prices. Oil prices increased from $36.68 per barrel in June to $40.64 a barrel last month, he adds.

However, compared to last year (YoY), he said the exports values fell by 9.90 percent due to the decrease in exports of oil and gas was dropped by 40.99 percent and non-oil and gas 4.5 percent.

Indonesia’s export value in July 2020 reached US $ 13.73 billion, an increase of 14.33 percent compared to exports in June 2020. Meanwhile, compared to July 2019, it decreased by 9.90 percent.

Non-oil and gas exports in July 2020 reached US $ 13.03 billion, up 13.86 percent compared to June 2020. Meanwhile, compared to non-oil and gas exports in July 2019, it decreased by 5.87 percent.

Cumulatively, Indonesia’ export value from January to July reached $90.12 billion or decreased 6.21 percent compared to the same period in 2019. Likewise non-oil and gas exports reached $85.44 billion or dropped by 3.96 percent.

The largest increase in non-oil and gas exports in July against June occurred in precious metals, jewelry and gems amounting to $452.7 million (79.79 percent), while the largest decrease occurred in metal ores, slag and ash amounting to $100.5 million (33.07 percent).

By sector, non-oil and gas exports from the processing industry from January to July fell 0.67 percent compared to the same period in 2019. Likewise, exports of mining products and others fell by 22.14 percent and exports of agricultural products rose 9.92 percent.

The largest non-oil and gas exports in July 2020 were to China worth of $2.53 billion, followed by the United States at $1.61 billion and Japan at $1.05 billion, with the three contributions reaching 39.82 percent. Then, exports to the European Union (27 countries) amounted to $1.05 billion.

According to the province, Indonesia’ largest exports in January – July 2020 came from West Java with a value of $14.65 billion (16.26 percent), East Java $11.54 billion (12.81 percent), and East Kalimantan with $7.80 billion (8.65 percent).

IMPORT

Import value in July 2020 recorded $10.47 billion or down 2.73 percent compared to June but compared to July 2019, it decreased by 32.55 percent. Non-oil and gas imports reached $9.51 billion or decreased by 5.70 percent compared to June and it also fell 30.95 percent from last year.

July 2020 oil and gas imports were valued at US $ 0.96 billion, an increase of 41.53 percent compared to June 2020, but compared to July 2019 it fell 45.19 percent. The largest decline in non-oil and gas imports in July 2020 compared to June was for the vehicle category and its parts, valued $157.9 million (42.77 percent).

And the largest increase was in the class of electrical machinery and equipment valued at $220.9 million (15.77 percent). While, the three largest suppliers of non-oil and gas imports until July were China with $21.36 billion (29.31 percent), Japan $6.75 billion (9.26 percent), and Singapore $4.86 billion (6.66 percent).

Non-oil and gas imports from Southeast Asia worth of $13.94 billion (19.12 percent) and the European Union $5.77 billion (7.91 percent). The import value of all categories of goods used during January-July 2020 has decreased compared to the same period the previous year.

The decline occurred in the consumer goods category (7.15 percent), raw or auxiliary materials (17.99 percent) and capital goods (18.98 percent). In addition, total import in July was $10.47 billion, down 2.73 percent compared to June because the decline in non-oil and gas imports was fell 35.07 percent.  This import value is much lower by 32.55 percent than the same period in 2029.

-update on 3.14 p.m

Written by Editorial Staff, Email: theinsiderstories@gmail.com