Non Oil And Gas Import Dropped, Trade Balance of March Swings Back Into Surplus

JAKARTA. The Central Statistics Agency (Badan Pusat Statistik/BPS) recorded Indonesia's trade balance in March 2020 again experiencing a surplus of USD743,4 million. This amount is lower than in February which also has a surplus of USD 2.512,8 million. 

However, when compared to March 2019 or year on year (yoy) which experienced a surplus of USD 670.8 million, it is still higher.

The trade balance surplus this time was influenced by two factors, that is due to export growth of 0.23% in March when compared to February 2020, and export growth when compared to March 2019, which is down 0.20%.

Meanwhile on the import side there was an increase of 15.6% in March 2020 compared to February 2020, whereas if compared to March 2019 it had grown negatively by -1.56%. The decline was driven by non-oil and gas imports decline of-1.6% in March 2020 compared to March 2019, and down-5.8% for non-oil and gas import in the period of January-March 2020 against 2019.

BPS considers this condition should be the concern of the Government, because the decline in non-oil and gas import was driven by a decline in import of raw material by 2.82% and import of capital goods down to 13.07%, during January-March. The details of non-oil and gas imports based on type of goods are as follows:

Type of Import Goods	March 2020	Compared to February 2020	Compared to March 2019
Consumer Goods	USD1.268,2 trillion	43,8%	7,11%
Raw/auxiliary Materials	USD10.281,0 trillion	16,34%	-2,82%
Capital Goods	USD1.800,9 trillion	-1,55%	-13,07%

Source: BPS

If viewed based on country origin, the highest non-oil and gas imports are known to come from the ASEAN country group by 21.18% or USD 7.164, 7 million, followed by the European Union for 7.72% with a nominal value of USD 2.612, 3 million. Meanwhile China is still the largest importer country, with a role of 26.34% or valued at USD8,908 million.