Trade Balance Records a USD 2.3 billion Surplus in February
Tuesday, 17 March 2020
JAKARTA. The Central Statistics Agency (Badan Pusat Statistik/BPS) announced Indonesia's trade balance in February had a surplus of USD 2.35 billion. While for the January-February period, there was a surplus of USD 1.69 billion.
This condition is quite different compared to trade balance in the January-February 2019 period, which experienced a deficit of USD -733.6 million. It caused by an increase in the value of exports, but on the other hand there is a very drastic decline in the value of imports.
Indonesia's export recorded growth of 4,1 % in the January-February 2020 period compared to the same period in 2019 to USD 27.57 billion. Even non-oil and gas exports were able to grow 14.64% which was dominated by exports of mineral fuels with a contribution of 13.79% and vegetable fats and oils which grew by 12.24%.
According to BPS Deputy for Distribution and Services Yunita Rusanti, as quoted from kontan.co.id, said the increase in exports was still temporary. She viewed that the increase in exports had indeed begun to appear since the last few months.
In fact, export growth in December 2019 is much higher than in February 2020.
Meanwhile, imports in the January-February period were recorded at USD 25.87 billion, dropped 4.95% and specifically in February it was recorded at USD 11.60 billion or down 18.69%.
China's Influence
Viewed based on country of origin, the country that experienced the biggest decline and contributed the most was China. In the January-February period the value of non-oil and gas imports from China fell by 17.75%.
Indeed, the number of China's imports is still low compared to the decline in non-oil and gas imports from the Netherlands, which fell by 22.85%. Yet, the contribution of imported goods from China was the most important, reaching 26.76%.
As viewed by type of goods, capital goods imports experienced the deepest decline of -10.64%. Whereas imports of consumer goods still experienced growth of 5.28% and raw / auxiliary materials down 4.8%.
| Type of Goods | January Imports | January-February Imports |
| Consumer Goods | 881,7 | 2.348,9 |
| Raw/Auxiliary Materials | 8.890,6 | 19.460,3 |
| Capital Goods | 1.829,3 | 4.061,1 |
| Total | 25.870,3 | 25.870,3 |
