Photo by BPS

JAKARTA (TheInsiderStories)–Indonesia recorded US$1.74 billion trade surplus in June 2018, Statistics Indonesia reported on Monday (16/07).

However, the country still booked US$1.02 billion in the trade deficit from January to June 2018. Export in January to June 2018 reached US$88.02 billion or increase 10.03 per cent (year to year), lower than the import that reached US$89.04 million or increased 23.10 per cent (year to year).

“This high import needs to be paid more serious attention by the government,” Head of Statistics Indonesia Suhariyanto on Monday (16/7).

In the monthly, Suhariyanto said export in June 2018 reached US$13 billion, while the import reached US$11.26 billion. The export in June 2018 increased 11.7 per cent (year on year), but it decreased by 19.80 per cent in the month to month. The export mostly declined in vehicles and spare parts, machinery, electrical equipment, mechanical plan engines.

In addition, the export decreased due to the commodity prices decline such as Indonesia crude price to US$70.36 per barrel in June 2018 from US$72.46 per barrel in May 2018. However, some commodities price such as crude palm oil, gold, and rubber increased in June 2018.

Oil and gas export increased 34.79 per cent to US$1.72 billion (year on year) in June 2018 and increased 4.67 per cent in the month to month. In addition, the non-oil and gas export contributed 86.76 per cent of the total export in June 2018 with the biggest contribution from the processing industry of US$8.55 billion.

In addition, the mining industry grew 1.08 per cent (month to month) and 58.53 per cent (year on year) with a total US$2.53 billion. The agriculture industry contributed US$200 million in June 2018 but it grew minus 35.2 per cent (month to month) and minus 25.31 per cent (year on year).

Import in June increased 12.66 per cent (year on year) with a decline in all sectors. The largest import decline was contributed by non-oil and gas imports to US$9.14 billion in June from US$14.8 billion, while the oil and gas import fell to US$2.12 billion in June from US$2.86 billion.

Raw materials and auxiliary imports recorded US$8.51 billion, or down 35.21 per cent (month on month) and up 14.56 per cent (year on year).

In addition, consumption goods import fell to US$1.01 billion, decreased 41.85 per cent (month on month) and 9.51 per cent (year on year). Capital goods import in June 2018 reached US$1.74 billion, fell 37.81 per cent (month to month) and up 19.94 per cent (year on year).