Export value in May increases: BPS

28 June, 2018 | Source: Antara News

Head of Central Statistics Agency (BPS) Suhariyanto reported that Indonesia`s export value in May 2018 reached US$ 16.12 billion, a 10.90 percent increase compared to April 2018.

Likewise, it increased by 12.47 percent compared to May 2017," Suhariyanto said in a statement here on Wednesday.

He stated that non-oil and gas exports in May 2018 reached $14.55 billion, or increased by 9.25 percent compared to April 2018 and by 11.58 percent compared to May 2017.

Suhariyanto noted that Indonesia`s import value in May 2018 reached $17.64 billion, or increased by 9.17 percent compared to April 2018, and increased by 28.12 percent compared to May 2017.

Non-oil/gas imports reached $14.83 billion in May 2018, or increased by 7.19 percent compared to April 2018. Similarly, it increased by 23.77 percent compared to May 2017, he remarked.

Indonesia booked $2.09 billion in non-oil/non-gas export to China in May 2018, while export to the United States and Japan were recorded at $ 1.57 billion and $ 1.40 billion, respectively.

Export value to these countries contributes 34.82 percent of Indonesia`s total export value.

Export values to 28 European Union countries amounted to $1.74 billion, he stated.

Based on the origin of export goods, West Java recorded the highest export value during January to May 2018, with a total amount of $12.84 billion (17.14 percent), followed by East Java at $8.02 billion (10.70 percent), and East Kalimantan at $7.45 billion (9.94 percent), he concluded.

Indonesia`s trade balance in May 2018 recorded a deficit of $1.52 billion, showing a decrease compared to the trade balance deficit in the previous month of $1.63 billion.

"Such improvement is attributed to the decreasing deficit in non-oil and gas trade balance exceeding the increasing deficit in oil and gas trade balance," the director of BI`s communications department, Arbonas Hutabarat, remarked.

With such a development, cumulatively from January until May 2018, Indonesia`s trade balance recorded a deficit of $2.83 billion.

Non-oil and gas trade balance in May 2018 recorded a decreasing deficit of $0.28 billion, decreasing from the previous month of $0.52 billion.

The improvement of non-oil and gas trade balance is primarily attributable to the increasing oil and gas export.

Non-oil and gas export in May 2018 increases by $1.23 billion (mtm), primarily boosted by the increasing export of machinery and electrical device, ore, crust, metal ash, iron and steel, knitted goods, and lead.

Meanwhile, non-oil and gas import increases by $0.99 billion (mtm), primarily due to the increasing import of machine and mechanical device, machinery and electrical device, cereals, sugar and candies, as well as vessels and floating structures.

 

Indonesia`s economic growth reached a five-year high of 5.17 percent in 2018, mostly fueled by household consumption, investment, and government spending, according to the Central Statistics Agency (BPS).
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