Total trade between Indonesia and China reached US$48.7 billion during January - August 2020, said ambassador to China and Mongolia, Djauhari Oratmangun - Photo by MoFA Office

JAKARTA (TheInsiderStories) – Total trade between Indonesia and China reached US$48.7 billion during January – August 2020, said ambassador to China and Mongolia, Djauhari Oratmangun, in an official statement early this week. Of this amount, the Southeast largest economy’ exports to China worth of $23.3 billion or grew by 6.4 percent compared to the same period in previous year.

While, total import values amounting to $25.4 billion or decreased by 11.8 percent from last year. He said, the trade deficit of the both countries around 69.2 percent compared to the same period in 2019.

A number of Indonesian products that have increased significantly, said Oratmangun, including iron and steel rose by 134.3 percent, copper increased by 88.5 percent, footwear jumped 31.9 percent, paper and paperboard up 118.7 percent, fishery products lifted by 16.2 percent, rubber rose 25.8 percent, plastics up by 20.4 percent, tin jumped by 1163.6 percent, aluminum increased by 4,124.1 percent, inorganic chemicals rose 63.1 percent, textile products rose by 3,296.3 percent, special cloth products jumped by 54.2 percent, tropical fruits lifted by 72.8 percent, also coffee, tea and spices increased by 280.8 percent

While, the realization of Chinese investment in Indonesia in the January – July 2020 period worth of $2.4 billion, an increase of 9 percent over the same period in the previous year. In the first quarter of 2020,China is the second largest investor in Indonesia. if compile with an investment from Hong Kong $1.7 billion, then both are the largest investors in Indonesia .

Recently, Statistics bureau reported that Indonesia posted a trade surplus of US$2.3 billion in August. Last The export value was recorded at $ 13.07 billion or decreased by 4.62 percent compared to exports in July 2020. Meanwhile, compared to August 2019, it decreased by 8.36 percent.

“This surplus is much bigger compared to August 2019 was surplus $92.6 million,” said head of Statistic Indonesia, Suhariyanto, on Tuesday (09)/15 via a video conference.

While, the import values was recorded at $10.74 billion, up 2.65 percent compared to July, but compared to August 2019 it was down 24.19 percent. Cumulatively, Indonesia’ export value reached $103.16 billion during January – August or dropped by 6.51 percent compared to the same period in 2019, likewise non-oil and gas exports reached $97.90 billion or decreased by 4.38 percent.

Then, non-oil and gas exports worth of $12.46 billion or down 4.35 percent compared to July 2020 and compared to August 2019 also decreased by 7.16 percent. The largest decrease in non-oil and gas exports in August 2020 against July occurred in precious metals, jewelry, and gems amounting to $169.6 million (16.62 percent) and the largest increase occurred in metal ore, slag and ash amounting to $102.2 million (50.22 percent).

By sector, non-oil and gas exports from the processing industry until August fell 1.18 percent compared to the same period in 2019, mining products and others down 22.45 percent, and exports of agricultural products rose 8.59 percent.

The largest non-oil and gas exports in August 2020 were to China, worth of $2.46 billion, followed by the United States of $1.62 billion and Japan $980 billion, with the three contributions reaching 40.68 percent. Then, exports to the European Union (27 countries) amounted to $1.02 billion.

According to the province of origin, Indonesia’ largest exports in January – August 2020 came from West Java with a value of $16.79 billion (16.28 percent), followed by East Java with $13.36 billion (12.95 percent), and East Kalimantan with $ 8.70 billion (8.44 percent).

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Suhariyanto also reported, value of Indonesia’ imports in August 2020 reached $10.74 billion, an increase of 2.65 percent compared to July 2020, but compared to August 2019 it fell 24.19 percent. Last month, non-oil and gas imports amounted to $9.79 billion, up 3.01 percent compared to July 2020, but compared to August 2019 it fell 21.91 percent.

Oil and gas imports in August were valued of $950 million, down 0.88 percent compared to July 2020. Likewise, compared to August 2019, it fell 41.75 percent. The largest increase in non-oil and gas imports in August 2020 compared to July 2020 was for the iron and steel group valued at $89.2 million (23.31 percent), while the largest decrease was for ships, boats and floating structures valued at $60.8 million (40.96 percent).

The three largest suppliers of imported non-oil and gas goods during January-August 2020 were China, valued at $24.72 billion (29.90 percent), Japan $7.31 billion (8.84 percent), and Singapore $5.41 billion (6.55 percent) . Non-oil and gas imports from Southeast Asian valued of $15.61 billion (18.89 percent) and the European Union valued at $ 6.61 billion (7.99 percent).

The import value of all categories of goods used during January-August 2020 decreased compared to the same period the previous year. The decline occurred in the consumer goods category (7.86 percent), raw / auxiliary materials (18.85 percent), and physical goods (20.13 percent).

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