Statistic bureau reported Indonesia posted a trade surplus US$1.96 billion in January from a year ago deficit US$640 million - Photo: Special

JAKARTA (TheInsiderStories) – Statistic bureau reported Indonesia posted a trade surplus US$1.96 billion in January from a year ago deficit US$640 million. During last month, total export values recorded $15.30 billion or dropped by 7.48 percent compared to December 2020 with worth of $16.54 billion and from January of last year increased by 12.24 percent.

“We hope that export values in the coming months will grow so the economic recovery will proceed as expected,” said head of the agency, Suhariyanto in a virtual conference on Monday (02/15).

He continued, the trade surplus caused of the import values in January 2021 down 7.59 percent to $13.34 billion compared to the previous month and decreased by 6.49 percent from January 2020. The trade surplus occurred with the United States worth of $1.09 billion, India $563.2 million, and the Philippines with a surplus of $504.3 million.

However, the country still experienced a trade deficit of $1.09 billion with China, Australia $243.6 million, and South Korea with deficit of $192.3 million. Last month, non-oil and gas exports reached $14.42 billion, down 7.11 percent compared to December 2020 and rose by 12.49 percent from year ago.

The largest decline in non-oil and gas exports in metal ore, slag and ash amounting to $257.5 million (44.39 percent), while the largest increase occurred in mineral fuels amounting to $150.5 million (8.72 percent). By sector, non-oil and gas exports from the processing industry in January 2021 increased by 11.72 percent compared to the same month in 2020, likewise the export of agricultural products rose 13.91 percent and exports of mining products and others increased by 16.92 percent.

The largest non-oil and gas exports in January 2021 were to China amounted to $3.05 billion, followed by the United States $1.68 billion, and Japan $1.25 billion, with total contribution 41.45 percent of the total export. In addition, exports to Southeast Asia and the European Union (27 countries) were $3.05 billion and $1.17 billion, respectively.

According to the province, Indonesia’ largest exports in January 2021 came from West Java with a value of $2.56 billion (16.72 percent), Riau $1.53 billion (9.99 percent), and East Java $1.51 billion (9.88 percent). Then, oil and gas imports in January 2021 up 4.73 percent to $1.55 billion from December 2020 and fell by 21.90 percent compared to January 2020.

Non-oil and gas imports in January 2021 reached $11.79 billion, down 9.00 percent compared to December 2020 also declined by 4.00 percent compared to January 2020. The largest decline in imports of non-oil and gas was machinery and mechanical equipment of $371.3 million (17.16 percent) and the biggest increase was in pharmaceutical products with worth of $148.6 million (133.78 percent).

The three largest suppliers of non-oil and gas imports were China amounted to $4.15 billion (35.18 percent), Japan $870 million (7.35 percent), and Singapore $ 690 million (5.82 percent). Non-oil and gas imports from the Southeast Asian countries $2.12 billion (18.00 percent) and the European Union valued at $750 million (6.40 percent).

Based on the category, the value of imports of consumer goods of $291.7 million (17.00 percent), raw or auxiliary materials of $267.5 million (2.62 percent), and capital goods of $537.0 million (21.23 percent).

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