JAKARTA (TheInsiderStories) – Indonesia’ trade surplus narrowed to US$200 million in June 2019 from a $1.71 billion in the same month a year earlier, as exports fell 8.98 percent in annual basis (YoY). While imports rose 2.80 percent, the first annual increased inbound shipments in six months, Statistics Indonesia has reported today (07/15).
During the first half (1H) of the year, the trade balance recorded a deficit of $1.93 billion, compared with a deficit of $1.16 billion in the same period of 2018, the bureau said.
“Some natural commodities have experienced steep price declines, including coal, palm oil, zinc, iron, and copper. Those who affected the export-import performance in June had a nine-day leave together,” head of Statistic Indonesia Suhariyanto told the media in Jakarta.
He added, this sabbatical has a big impact on exports and imports. It can be seen from the document that the number of exports fell far from the previous month, the chief said.
In details, the agency reported, the value of exports reached $11.78 billion in June, down 20.54 percent compared to exports month earlier. Likewise, if compared to June 2018 it decreased by 8.98 percent. Non-oil and gas exports reached $11.03 billion, down 19.39 percent compared to the previous month and down 2.31 percent compared to June 2018.
Cumulatively, the value of Indonesian exports in January-June reached $80.32 billion or decreased 8.57 percent compared to the same period in 2018, as well as non-oil and gas exports reaching $74.21 billion or a decrease of 6.54 percent.
The biggest decline in non-oil and gas exports in June against May occurred in mineral fuels amounting to $336.9 million (16.31 percent), while the largest increase occurred in jewelry/gems of $368.1 million (88.66 percent).
By sector, non-oil and gas exports from the January-June processing industry fell 4.59 percent compared to the same period in 2018, as well as exports of agricultural products down 1.03 percent, and mining and other exports fell 15.44 percent.
June’ largest non-oil exports were to China, which was $1.82 billion, followed by the United States $1.08 billion and Japan $1.02 billion, with the contribution of the three reaching 35.50 percent. While exports to the European Union (28 countries) amounted to $0.97 billion.
According to the province of origin, Indonesia’s largest exports in January-June came from West Java with a value of $14.50 billion (18.05 percent), followed by East Java $9.24 billion (11.50 percent) and East Kalimantan $8.35 billion (10.40 percent).
The imports, on the opposite, reached $11.58 billion in June, down 20.70 percent compared to the previous month, but rose 2.80 percent compared to June 2018, the first annual increased inbound shipments in six months. June non-oil and gas imports reached $9.87 billion, down 20.55 percent compared to the previous month, but up 8.15 percent compared to June 2018.
June oil and gas imports reached $1.71 billion, down 21.50 percent compared to the previous month. Similarly, compared to June 2018 it fell 19.99 percent. The biggest decline in non-oil and gas imports in June compared to prior month was in the mechanical/aircraft category of $399.6 million (18.79 percent), while the largest increase was in the aluminum group at $143.2 million (103.17 percent).
The three largest non-oil/gas importing goods countries during January-June were occupied by China with a value of $20.63 billion (28.91 percent), Japan $7.66 billion (10.73 percent), and Thailand $4.62 billion (6.48 percent ). Non-oil and gas imports from ASEAN were 19.44 percent, while those from the European Union were 8.20 percent.
The import value of all categories of goods use, both consumer goods, raw materials/auxiliary materials, and capital goods during January-June, decreased compared to the same period of the previous year, respectively at 9.31 percent, 7.73 percent, and 6.15 percent.
Written by Lexy Nantu, Email: email@example.com