JAKARTA (TheInsiderStories) – Indonesia’s trade balance surplus US$470 million in May dropped significantly compared to April worth of $1.33 billion, the Central Bureau of Statistics (BPS) reported.
Deputy for Social Statistics at the BPS M. Sairi Hasbullah, said the declined of surplus in May is a seasonal phenomenon due to high imports before Ied-Fitr.
“Cumulatively, the surplus from January to May 2017 reached $5.90 billion or higher compared to the same period in 2016 which recorded US$0.33 billion,” he said during a press conference.
He continued, the surplus was derived from export in May by $14.29 billion which grew 24.08 percent year-on-year while imports in the same month reached $13.82 billion or grew 24.03 percent year-on-year.
The increase in exports was supported by improvements in commodity prices, especially CPO export which reached US$13.02 billion or grew 6.37 percent month-to-month.
The export in May increased 7.62 percent compared to April 2017 and it increased by 24.08 percent compared to May 2016,
Non-oil & gas exports reached $13.02 billion, up 6.37 percent compared to April 2017, while compared to May 2016 exports rose 23.34 percent.
The cumulative value of Indonesian exports in January-May 2017 reached $68.26 billion or an increase of 19.93 percent over the same period in 2016, while non-oil exports reached $61.98 billion, an increase of 20.10 percent.
The largest increase of non-oil & gas exports in April to May 2017 occurred in machineries aircraft mechanics of $178.2 million (rose 43.81 percent), while the largest decrease occurred in mineral fuel of $115.9 million (up 6.47 percent) .
According to the sector, non-oil & gas exports from January-May 2010 rose 16.22 percent over the same period in 2016, as well as exports of agricultural products rose 28.54 percent and exports of mining and other products rose 45.46 percent.
The largest non-oil & gas exports were $1.53 billion were United State $1.53 billion, followed by China with $1.51 billion and India $1.28 billion, with third contribution reaching 33.14 percent. Meanwhile, exports to the European Union (28 countries) amounted to $1.39 billion.
According to province based, Indonesia’s largest export in January – May 2017 came from West Java with $11.68 billion (17.11 percent), followed by East Java of $7.52 billion (11.02 percent) and East Kalimantan $7.13 billion (10.45 percent).
The value of Indonesian imports in May 2017 up 15.67 percent compared to April 2017, but when compared to May 2016 increased by 24.03 percent.
Non-oil & gas imports in May 2017 reached $12.00 billion, an increase of 16.49 percent compared to April 2017, but if compared to May 2016 it increased by 26.65 percent.
Oil and gas imports in May 2017 reached US $ 1.82 billion, up 10.54 percent compared to April 2017, while compared to May 2016 increased by 9.10 percent. The largest increase in non-oil imports in May 2017 compared to April 2017 was mechanical and mechanical equipment of $274.6 million (17.64 percent), while the largest decline was sea floors and floating buildings of $58.4 million (54.02 percent).
The country’s largest non-oil / gas imports supplier during January-May 2017 was China with $13.67 billion (26.12 percent), Japan $5.82 billion (11.12 percent) and Thailand $3.77 billion (7.21 percent). Non-oil imports from ASEAN are 20.77 percent, while the European Union is 9.21 percent.
The import value of all categories of good use of consumer goods, raw materials/auxiliaries and capital goods during January-May 2017 increased from 11.78 percent, 17.63 percent and 9.13 percent in the same period of the previous year. (RF)