Statistics bureau reported Indonesia posted a trade surplus US$3.61 billion in October supported by the strengthening commodity prices for coal and crude palm oil - Photo: Special

JAKARTA (TheInsiderStories) – Statistics bureau reported Indonesia posted a trade surplus US$3.61 billion in October supported by the strengthening commodity prices for coal and crude palm oil, said the chairman on Monday (11/16). This figure higher than September worth of $2.44 billion.

Suhariyanto in a virtual conference said, the value of Indonesia’ exports in October 2020 was $14.39 billion, an increase of 3.09 percent compared to September. But, compared to October 2019 it decreased by 3.29 percent.

Last month, the non-oil and gas exports reached US $ 13.76 billion, up 3.54 percent compared to September. While, compared to October 2019 the non-oil and gas exports, it decreased by 1.84 percent.

Cumulatively, the value of the national exports from January to October reached $131.54 billion, dropped 5.58 percent over the same period in 2019 and non-oil and gas exports reached $125.00 billion or fell by 3.62 percent. The largest increase in non-oil and gas exports were animal or vegetable fats and oils amounting to $188.1 million (10.96 percent), while the largest decrease in precious metals, jewelry and gems amounting to $150.0 million (20.34 percent).

By sector, non-oil and gas exports from the processing industry  rose 0.18 percent in 10 months compared to the same period in 2019. Exports of agricultural products increased by 11.38 percent and exports of mining and other products fell by 25.01 percent.

The largest non-oil and gas exports were to China worth of $2.86 billion, followed by the United States at $1.64 billion, and Japan $1.06 billion, with an ethical contribution of 40.42 percent. Then, exports to the European Union (27 countries) amounted to $1.15 billion.

Based on province, Indonesia’ largest exports came from West Java with a value of $21.54 billion (16.37 percent), East Java $16.91 billion (12.86 percent), and Riau $10. 86 billion (8.26 percent).

IMPORT

Suhariyanto also announced, import value stood at $10.78 billion in October or decreased by 6.79 percent compared to prior month and down 26.93 percent compared to October 2019. Non-oil and gas imports reached $9.70 billion, dopped by 6.65 percent compared to September and fell 25.36 percent compared to October 2019.

Oil and gas imports in October 2020 were valued of $1.08 billion, lowered 8.03 percent compared to September and from same month of last year down by 38.54 percent. The largest decrease in non-oil and gas imports was electrical machinery and equipment of $200.9 million (11.90 percent),.

While, the largest increase was ore, slag and metal ash of $36.5 million (74.28 percent). The three largest suppliers of imported non-oil and gas goods during January – October were China $31.02 billion (30.18 percent), Japan $8.81 billion (8.57 percent), and Singapore $6.74 billion (6.56 percent). Non-oil and gas imports from ASEAN stood at $19.25 billion (18.73 percent) and the European Union worth of $8.17 billion (7.95 percent).

The import value of all categories of goods used until October decreased compared to the same period the previous year. The decline occurred in the consumer goods category (11.39 percent), raw or auxiliary materials (19.75 percent), and capital goods (20.29 percent).

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