August Trade Balance at US$85.1mn Surplus: BPS

TEMPO.CO, Jakarta - The central statistics agency, Statistics Indonesia or BPS, recorded August 2019's trade balance at a surplus of US$85.1 million. BPS chief Suhariyanto said the trade balance was affected by a sharp decline in oil/gas and non-oil/gas import throughout the month.

"Export was down—but import fell deeper," he said in Jakarta, Monday, September 16.

According to the agency, August imports value was US$14.20 billion, down 8.53 percent compared to imports in July 2019. Oil/gas imports reached US$1.63 billion or down 6.73 percent from the previous month, while non-oil/gas imports reached US$12.56 billion or down 8.76 percent.

Suhariyanto said imports declined happened to consumption goods, raw/auxiliary materials, and capital goods.

Some goods that experienced a sharp decline in imports were vegetables, such as garlic from China, plastics and plastic goods, vehicles and vehicle components, as well as electrical equipment and aircraft engines.

Meanwhile, the value of Indonesian exports in August 2019 reached US$14.28 billion, down 7.60 percent compared to July. Suhariyanto said that oil/gas exports only amounted to US$0.88 billion while non-oil/gas was US$13.4 billion.

Exports in the oil and gas sector fell with the declining global oil prices from US$61.62 per barrel in July to US$57 last month. Meanwhile, exports from the processing and mining industries also dropped 2.4 percent and 9.46 percent, respectively.

"Only the agricultural sector experienced an increase of US$0.34 billion," Suhariyanto said.

FRANCISCA CHRISTY ROSANA