President Joko Widodo released export of various Indonesian products simultaneously in 16 provinces with total amount US$1.64 billion on Friday (04/12) - Photo by Trade Ministry Office

JAKARTA (TheInsiderStories) – President Joko Widodo released export of various Indonesian products simultaneously in 16 provinces with total amount US$1.64 billion on Friday (04/12). The exported products range from furniture, automotive, food to unique products such as cow beds to water hyacinth.

The sixteen provinces are Aceh (two companies), North Sumatra ( two companies), South Sumatra (one company), Riau (four companies), Lampung (two companies), South Sulawesi (32 companies), Banten (four companies), and Jakarta (six companies).

Then, West Nusa Tenggara (two companies), Bali (two companies), West Papua (three companies), West Java (12 companies), Central Java (18 companies), Yogyakarta Special Region (five companies), East Java (31 companies), and East Kalimantan (seven companies) involved in the export ceremony.

“Indonesia has a very large export potential, both in terms of products as well as the volume and destination of exports. The government and business actors must be able to take at look the export market, which is still wide open,” he told the participants.

Minister of trade, Agus Suparmanto, explained the simultaneous exports is an effort to increase non-oil and gas exports, including national economic recovery in 2021. Cumulatively, Indonesia’ trade balance in the first ten month recorded a surplus $17.07 billion, approaching the value in 2010 which reached $22.12 billion.

But, the value of the national exports until October reached $131.54 billion, still lower 5.58 percent over the same period in 2019 and non-oil and gas exports reached $125.00 billion or fell by 3.62 percent. The largest increase in non-oil and gas exports were animal or vegetable fats and oils amounting to $188.1 million (10.96 percent), while the largest decrease in precious metals, jewelry and gems amounting to $150.0 million (20.34 percent).

By sector, non-oil and gas exports from the processing industry  rose 0.18 percent in 10 months compared to the same period in 2019. Exports of agricultural products increased by 11.38 percent and exports of mining and other products fell by 25.01 percent.

The largest non-oil and gas exports were to China worth of $2.86 billion, followed by the United States at $1.64 billion, and Japan $1.06 billion, with an ethical contribution of 40.42 percent. Then, exports to the European Union (27 countries) amounted to $1.15 billion.

While, import values stood at $10.78 billion in October or decreased by 6.79 percent compared to prior month and down 26.93 percent compared to October 2019. Non-oil and gas imports reached $9.70 billion, dropped by 6.65 percent compared to September and fell 25.36 percent from October 2019.

Oil and gas imports in October 2020 were valued of $1.08 billion, lowered 8.03 percent compared to September and from same month of last year down by 38.54 percent. The largest decrease in non-oil and gas imports was electrical machinery and equipment of $200.9 million (11.90 percent),.

While, the largest increase was ore, slag and metal ash of $36.5 million (74.28 percent). The three largest suppliers of imported non-oil and gas goods during January – October were China $31.02 billion (30.18 percent), Japan $8.81 billion (8.57 percent), and Singapore $6.74 billion (6.56 percent). Non-oil and gas imports from ASEAN stood at $19.25 billion (18.73 percent) and the European Union worth of $8.17 billion (7.95 percent).

The import value of all categories of goods used until October decreased compared to the same period the previous year. The decline occurred in the consumer goods category (11.39 percent), raw or auxiliary materials (19.75 percent), and capital goods (20.29 percent).

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