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APSyFI: The national textile industry is headed for a trade deficit, 2018 exports grow 1% and imports grow 14% (yoy).--IKATSI: The growth of the national textile industry is still hampered by floods of imports, Indonesia needs a clothing security law.


	
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Balance of Trade in May 2019 Surplus of US $ 210 Million PDF Print E-mail
Monday, 24 June 2019
The Central Bureau of Statistics (BPS) noted the trade balance in May 2019 had a surplus of US $ 210 million, far improved compared to the position of the previous month which had a deficit of US $ 2.5 billion. Nevertheless, the trade balance throughout January-May 2019 still has a deficit of US $ 2.14 billion.

 

Head of BPS Suhariyanto explained the trade balance surplus improved along with export performance which increased and decreased imports. Exports were recorded at US $ 14.74 billion, up 12.42 percent compared to the previous month, while imports recorded a decline of 5.62 percent to US $ 14.53 billion.

 

"We know the consensus of all people is deficit, but the data from customs and others that we receive is actually positive. Deficits occur for oil products, but gas is still surplus," Suhariyanto said.

 

He explained that the decline in imports occurred in oil and gas imports by 4 percent and non-oil and gas by 4.8 percent. While based on the main sector, the decline in imports mainly occurred in the auxiliary raw material group which reached 7.82 percent compared to the previous month to US $ 10.66 billion. While consumption imports still increased 5.62 percent to US $ 1.54 billion.

 

On the other hand, according to him, exports that increased in May occurred in both oil and gas and non-oil and gas exports. The highest increase occurred in oil and gas exports which reached 50.19 percent compared to the previous month to US $ 1.11 billion.

 

Exports of the agricultural industry and processing industries, according to him, also increased. Whereas mining exports declined.

 

He said the current economic conditions were still filled with uncertainty due to the trade war between the United States and China. As a result, prices for a number of commodities have decreased.

 

"Commodity prices fell in May compared to Apri. For example, ICP in April US $ 68.31 per barrel dropped to US $ 68.07 per barrel in May," he explained.

 

In addition to oil prices, prices for several other commodities, such as kernel oil, palm oil, coal and copper also declined. In fact, these commodities are Indonesia's main exports.

 

"While the price goes up it's rubber," he explained.

 

 

 

 

 
		

		
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