Indonesia’s Economic Shrank at 0.52% in 1Q 2019
Chief of Indonesian Statistics Suhariyanto.

JAKARTA (TheInsiderStories) – Indonesia posted a trade surplus of US$85.1 million in August 2019, swinging from a $940 million gaps in the same month a year earlier, as exports fell 9.99 percent year-on-year to $14.28 billion while imports dropped at a faster 15.60 percent to $14.20 billion, Statistics Indonesia has reported today (09/16).

“Indonesia’s export value in August reached $14.28 billion, down 7.60 percent compared to the previous month. While imports reached $14.20 billion, down 8.53 percent compared to the month earlier. So the trade surplus was $85.1 billion in August,” head of the agency Suhariyanto told the media in Jakarta.

He went on by saying that the non-oil exports in August reached $13.40 billion, down 3.20 percent compared to July, and down 7.18 percent from the same month in 2018.

Cumulatively, the value of Indonesia’s exports in January-August reached $110.07 billion, down 8.28 percent compared to the same period in 2018 earlier, as well as non-oil exports reaching $101.48 billion, down 6.66 percent.

The largest decline in non-oil and gas exports occurred in mineral fuels of $ 157.9 million, down 8.23 ​​percent compared to the previous month. While the biggest increase occurred in jewelry or gems by $168.8 million, up 25.31 percent.

By sector, non-oil exports of the manufacturing industry from January to August fell 4.33 percent compared to the same period last year, and exports of mining and other products fell 17.73 percent. While exports of agricultural products rose 1.53 percent.

The largest non-oil and gas exports were to China at $2.27 billion, followed by the United States at $1.59 billion and Japan at $1.18 billion, with the contribution of the three reaching 37.62 percent. While exports to the European Union (28 countries) amounted to $1.11 billion.

By province of origin, Indonesia’s largest exports in January-August came from West Java with a value of $20.13 billion (18.29 percent), followed by East Java at $12.59 billion (11.44 percent) and East Kalimantan at $11, 09 billion (10.08 percent).

Imports, on the opposite, in August reached $14.20 billion, down 8.53 percent compared to the previous month, as well as if compared to the same period last year, down 15.60 percent. The non-oil and gas imports reached $12.56 billion, down 8.76 percent compared to the previous month, as well as down 8.77 percent compared to the same month last year.

Oil and gas imports in August reached $1.63 billion, down 6.73 percent compared to a month earlier, and down 46.47 percent compared to the same month last year. Compared to the previous month, the biggest decrease in non-oil and gas imports was the engine/aircraft mechanics group at $259.8 million of 9.88 percent, while the largest increase was in the iron and steel objects group at $ 46.4 million of 14.77 percent.

The three largest suppliers of non-oil and gas imported goods during January-August were occupied by China with a value of $28.47 billion (29.17 percent), Japan $10.49 billion (10.75 percent), and Thailand $6.27 billion (6.43 percent). Non-oil and gas imports from ASEAN 19.54 percent, while from the European Union 8.47 percent.

Then, the import value of all categories of goods, both consumer goods, raw/auxiliary goods, and capital goods, during January-August decreased at 10.47 percent, 10.70 percent, and 5.72 percent respectively compared to the same period the previous year.

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