JAKARTA (TheInsiderStories) – Indonesia posted a trade surplus US$2.09 billion in May due to lower imports, the statistic bureau reported today (06/15). Year to date, the trade balance also surplus $4.39 billion compared to same period in 2019 at $2.7 billion.
“The surplus is less encouraging because exports and imports are falling. Our exports are growing negatively as well as imports are falling steeply,” head of Statistic Indonesia, Suhariyanto told reporters through a video conference.
During May, non-oil and gas exports in recorded $9.88 billion, fell 14.81 percent compared to prior month and down down 27.81 percent from last year. While, the value of imports worth of $8.44 billion or plunged 32.65 percent compared to April 2020 and when compared to May 2019 it fell 42.20 percent.
Cumulatively, the value of Indonesia’ exports from January to May reached $64.46 billion, down 5.96 percent over the same period in 2019, as well as non-oil and gas exports reached $60.97 billion, or decreased 3.50 percent.
The biggest decrease in non-oil and gas exports against April occurred in precious metals, jewelry or gems by $382.5 million (40.90 percent). wWhile the biggest increase occurred in iron and steel by US $ 130.6 million (18.11 percent) .
By sector, non-oil and gas exports from the manufacturing industry from January to May 2020 dropped 0.08 percent compared to the same period in 2019 and exports of mining products and others fell 21.02 percent. While, exports of agricultural products rose 5.63 percent.
The largest non-oil and gas exports in May were to China at $2.21 billion, followed by the United States worth of $1.09 billion and to Japan at $ 830 million, with the contribution of the three reaching 41.82 percent. While exports to the European Union (27 countries) amounted to $890 million.
By province, Indonesia’ largest exports in January – May came from West Java with a value of $10.48 billion (16.26 percent), East Java $7.97 billion (12.36 percent), and East Kalimantan with a value of $5.95 billion (9.22 percent).
Suhariyanto reported, non-oil imports in May drop sharply to $7.78 billion or down 33.36 percent compared to April and compared to May 2019 it also fell 37.34 percent. Oil and gas imports in May also fell 23.04 percent to $660 million versus April and compared to May 2019 it fell 69.87 percent.
The largest decrease in non-oil and gas imports in May compared to April was the machinery and mechanical equipment group of $560.0 million (30.56 percent), while the largest increase was in the air vehicle group and its share of $22.8 million (198.26 percent).
The three largest non-oil and gas importing suppliers from January to May are occupied by China with a value of $14.99 billion (28.13 percent), Japan with a value of $5.35 billion (10.04 percent), and Singapore with worth of $3.51 billion (6.59 percent). Non-oil and gas imports from Southeast Asia were $10.56 million (19.81 percent), while from the European Union were $4.12 million (7.73 percent).
The import value of all classes of usage during January – May fell compared to the same period the previous year. The decline occurred in the category of consumer goods, raw or auxiliary materials, and capital goods respectively 10.32 percent, 15.28 percent and 19.75 percent.
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