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

Thursday, 16 April 2020

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 2020Compared to March 2019
Consumer Goods USD1.268,2 trillion43,8%7,11%
Raw/auxiliary MaterialsUSD10.281,0 trillion16,34%-2,82%
Capital GoodsUSD1.800,9 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.



 





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