Statistics bureau announced that Indonesia' posted a trade surplus US$2.62 billion in November 2020 but lowered compared to previous month $3.61 billion due to the declining of some commodity prices - Photo by the Statistic Bureau Office

JAKARTA (TheInsiderStories) – Statistics bureau announced that Indonesia posted a trade surplus US$2.62 billion in November 2020 but lowered compared to previous month $3.61 billion due to the declining of some commodity prices, said the chairman today. The Southeast Asian largest economy reported total export values worth of $15.28 billion and the import value was $12.66 billion.

“Some of the non-oil and gas commodities experienced a quite large monthly price increases like coal, rubber, and copper. But, there were also some prices declined such as gold and silver,” said Suhariyanto, the head of the bureau on Tuesday (12/15).

He reported, in November total exports reached US$15.28 billion and imports reached of $12.66 billion. The export values rose by 6.36 percent compared to October and increased by 9.54 percent compared to a year ago.

The non-oil and gas exports reached $14.51 billion or settled up 5.56 percent compared to October and up 12.41 percent versus November 2019. Cumulatively, the value of Indonesia’ exports in eleven months worth of $ 46.78 billion or decreased by 4.22 percent compared to same period in 2019, as well as non-oil and gas exports also dropped by 2.18 percent to $139.49 billion.

The largest increase in non-oil and gas exports in November against October 2020 occurs in animal/vegetable fats and oils of $449.4 million (23.62 percent), while the largest decrease occurred in precious metals, jewelry, and gems amounting to $254.7 million (43.37 percent).

According to the province of origin, Indonesia’ largest export in January – November comes from West Java with a values of $23.92 billion (16.30 percent), followed by East Java with $18.52 billion (12.62 percent), and Riau with $12.28 billion (8.37 percent).

While, the import value of Indonesia in November amounting to $12.66 billion or jumped by 17.40 percent compared to October and it fell 17.46 percent from last year. The non-oil and gas imports reached $11.58 billion or up 19.27 percent compared to October, however down 12.33 percent compared to November 2019.

The oil and gas imports about $1.08 billion or lift 0.59 percent compared to October but compared to November 2019, it fell 49.16 percent.

The largest increase in non-oil and gas imports, November compared to October 2020 is the engine class and electrical equipment valued at $354.4 million (23.82 percent) and the largest decrease was in the sugar group and confectionery worth $101.0 million (66.12 percent).

The three largest suppliers of non-oil and gas imports during January – November is China valued at $34.91 billion (30.53 percent), Japan $9.77 billion (8.54 percent), and Singapore with $7.38 billion (6.45 percent). Non-oil and gas imports from Southeast Asian valued at $21.16 billion (18.50 percent) and the European Union worth of $9.06 billion (7.92 percent).

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