Returning to Surplus, the Trade Balance of June 2020 Gives a Positive Signal
Thursday, 16 July 2020
JAKARTA. The Central Statistics Agency (BPS) announced the trade balance in June recorded a surplus of USD 1.2 billion. This figure is lower than the surplus that occurred in May 2020, however BPS sees a positive signal shown from the current trade balance data, that is an increase in export and import compared to the export and import figures in the previous month.
The export value in June was recorded at USD12,03 billion or grew 15.09% compared to the export value of May 2020 and grew 2.9% (month to month) versus the export in June 2019 (year on year). While the import figure was recorded at USD 10.76 billion or grew 27.56% compared to May 2020 and grew 6.36% compared to June 2019.
On the export side, growth occurred in several industries such as agriculture industry, which grew 18.99%, the processing industry grew 15.96% as well as the mining industry and other industries grew 13.69% compared to export in May 2020.
While on the import side, growth occurred in a number of categories of goods such as machinery and mechanical equipment which grew 33.98%, machinery and electrical equipment grew 22.69%, vehicles and parts 54.22%, sugar and confectionery 56.47%, and precious metal items, jewelry or gems grew 3,463.41%.
While on the import side, growth occurred in a number of categories of goods such as machinery and mechanical equipment which grew 33.98%, machinery and electrical equipment grew 22.69%, vehicles and parts 54.22%, sugar and confectionery 56.47%, and precious metal items, jewelry or gems grew 3,463.41%.
In addition, a positive signal was also shown from the oil and gas trade balance which experienced a deficit of -USD95.2 million in June and -USD3.54 billion in the January-June 2020 period. This figure is better than oil and gas balance in May which recorded a deficit of -USD96.9 million. Whereas the non-oil and gas trade balance in June 2020 was recorded at USD 1.36 billion, lower than non-oil and gas balance in May of USD 2.11 billion.
Meanwhile cumulatively, the trade balance from January to June 2020 recorded a surplus of US5.5 billion with an export value of USD76.41 billion and imports of USD70.90 billion.
