Indonesia' trade deficit recorded of US$350 million in April 2020, said the statistic bureau last week - Photo: Privacy

JAKARTA (TheInsiderStories) – Indonesia’ trade deficit recorded of US$350 million in April 2020, said the statistic bureau last week. In March, the country still gained a surplus $740 million pushed by non-oil exports.

The agency reported, value of exports in April reached $12.19 billion, down 13.33 percent compared to exports and compared to April 2019, it decreased by 7.02 percent. Non-oil and gas exports also dropped by 13.66 percent to $11.58 billion from March and down 6.38 percent than April 2019.

Cumulatively, the export values in fourth month of 2020  worth of $53.95 billion, an increase 0.44 percent compared to the same period in 2019. The non-oil and gas exports reached $51.07 billion or rose 3.19 percent.

Statistic Indonesia reported, the largest decrease in non-oil and gas exports occurred in mineral fuels of $413.2 million (22.15 percent), while the largest increase occurred in precious metals, jewelry and gems by $92.9 million (11.03 percent ).

By sector, non-oil and gas exports from the manufacturing industry from January to April rose by 7.14 percent compared to the same period in 2019, as well as exports of agricultural products rose 15.15 percent, while exports of mining and other products dropped by 16.72 percent.

The largest non-oil and gas exports were to China at $2.21 billion, followed by the United States at $1.29 billion and Japan at US $ 1.04 billion, with the contribution of the three reaching 39.24 percent. And, exports to the European Union (27 countries) amounted to $1.04 billion.

Based on the province, Indonesia’s largest exports in January-April 2020 came from West Java with a value of $8.97 billion (16.63 percent), followed by East Java with $6.72 billion (12.45 percent) and East Kalimantan $4.99 billion (9.24 percent).

Import

The bureau also reported, the value of imports was $12.54 billion in April or dropped by 6.10 percent compared to March. When compared to April 2019 it was down 18.58 percent. In the same month, non-oil and gas imports reached $11.68 billion, plunged 0.53 percent compared to March and it also fell 11.24 percent from April 2019.

Oil and gas imports worth of $850 million, down 46.83 percent compared to March and when compared to April 2019 it fell 61.78 percent. The largest decrease in non-oil and gas imports in April compared to March was precious metals, jewelry or gems by $225.2 million (91.54 percent), while the largest increase was the pulp or residue of the food industry by $143.8 million (72.41 percent).

The three largest non-oil and gas importing goods suppliers in fourth month of 2020 were occupied by China with a value of $12.66 billion (27.81 percent), Japan $4.81 billion (10.57 percent), and Singapore $2.94 billion (6.46 percent). Non-oil and gas imports from Southeast Asian region were $ 9.19 billion (20.19 percent), while from the European Union were US $ 3.74 billion (8.22 percent).

The import value of all classes of usage during January – April has decreased compared to the same period the previous year. The decline occurred in the category of consumer goods, raw / auxiliary materials, and capital goods respectively 0.02 percent, 7.30 percent and 14.12 percent.

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