TEMPO.CO, Jakarta-The Central Statistics Agency (BPS) reported that the surplus trend in international trading was still happening as of April, where Indonesia's trade balance was at a surplus of US$2.33 billion. The figure, however, reflects a year-on-year decline from US$2.79 billion.
Sasmito Hadiwibowo, BPS deputy for statistics and services distribution, said the decline is caused by a decreasing global consumption. He said that the demand for raw commodity sectors like farming, mining and oil and gas continues to drop by 20-39 percent.
"We have to start reducing raw commodity export," he said.
He said Indonesia has a shot to improve its quality export. That shot is in the processed goods industry. He mentioned the jewelry and footwear exports that had risen by 14 percent and 2.5 percent respectively, as well as the automotive and the aircraft industry that rose 12 percent and 18 percent.
In addition to looking for new export markets, Sasmito said Indonesia can benefit from the recent currency swap deal with China. The agreement can boost exports, as it reduces monetary risks amid the US dollar fluctuations. "Our trade with China is at a US$5.8-billion deficit because we don’t export enough there," he said.
BPS records noted that the imports of capital goods and raw materials per April only amounted to US$38.7 billion, which is down from US$45.9 billion in 2015.
ANDI IBNU