Indonesia's monthly inflation reading for November came in at 0.14 percent, went up from 0.02 percent in the prior month - Photo by InsiderStories

JAKARTA (TheInsiderStories) – Indonesia posted a trade surplus of US$161.3 million in October 2019, widened from $160 million of the previous month with exports of $14.93 billion, up 5.92 percent compared to last month’s $14.1 billion. While imports rose 3.57 percent from $14.26 billion in September to $14.77 billion, Statistics Indonesia has reported today (11/15).

“Considering the first ten months of the year, the trade deficit narrowed sharply to $1.79 billion from $.58 billion in the same period of 2018,” head of the central statistics agency Suhariyanto told the media in Jakarta.

Suhariyanto detailed, exports in October reached $14.93 billion, an increase of 5.92 percent compared to September, but it dropped 6.13 percent from the same month a year earlier. Non-oil and gas exports reached $14.01 billion, up 5.56 percent compared to the previous month and fell 2.48 percent from October 2018.

Cumulatively, the value of exports in January-October reached $139.11 billion, down 7.80 percent compared to the same period in 2018, as well as non-oil and gas exports reached $128.76 billion or decreased 5.82 percent.

The biggest increase in non-oil and gas exports in October against September occurred in mineral fuels of $144.6 million (8.24 percent), while the largest decrease occurred in ships, boats and floating structures of $74.1 million (86.68 percent ).

By sector, non-oil and gas exports from the manufacturing industry from January to October decreased 3.74 percent over the same period in 2018, and exports of mining and other products fell 16.07 percent. While exports of agricultural products rose by 3.40 percent.

The largest non-oil and gas exports were to China at $2.77 billion, followed by the United States by $1.53 billion and Japan with $1.24 billion, with the contribution of the three reaching 39.55 percent. While exports to the European Union (28 countries) amounted to $1.22 billion.

According to the province, the largest exports in January-October came from West Java of  $25.31 billion (18.20 percent), followed by East Java $15.56 billion (11.18 percent) and East Kalimantan $13.75 billion (9.89 percent).

On the opposite, imports in October reached $14.77 billion, up 3.57 percent compared to the month earlier, but fell 16.39 percent from October 2018. Non-oil and gas imports reached $13.02 billion, up 2.73 percent compared to the previous month and fell 11.75 percent from October last year.

Oil and gas imports in October reached $1.76 billion, up 10.26 percent compared to September and down 39.82 percent compared to October 2018. The largest increase was the engine or electrical equipment group of $122.8 million (7.26 percent), while the largest decrease was the mechanical engine/aircraft group by $109.9 million (4.65 percent).

The three largest suppliers of non-oil and gas imported goods during January-October were placed by China of $36.32 billion (29.46 percent), Japan $13.28 billion (10.77 percent), and Thailand $7.92 billion ( 6.42 percent). Non-oil and gas imports from ASEAN were $24,343.6 (19.75 percent), European Union $10,214.1 (8.29 percent).

“The value of imports of all categories of goods, both consumer goods, raw/auxiliary goods, and capital goods, during January-October decreased compared to the same period the previous year of 8.31 percent; 11.19 percent; and 4.94 percent, respectively,” Suhariyanto ended.

Written by Lexy Nantu, Email: lexy@theinsiderstories.com