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Exports rebound more than 50% in first quarter
Exports, expected to lead economic growth this year along with investment, rose more than 50 percent in the first quarter, says the latest data from the Central Statistics Agency (BPS)
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E
xports, expected to lead economic growth this year along with investment, rose more than 50 percent in the first quarter, says the latest data from the Central Statistics Agency (BPS).
JP/IRMA
Between January and March, exports reached US$35.4 billion, a 53.7 percent rise from the same period in 2009 due to improving global economic conditions, BPS reported Monday.
The government expects exports to expand by 15 percent this year.
In the January-March period 2009 exports declined 32.1 percent due to the global economic downturn on a year-on-year basis — while in the January-March period 2008 exports rose 31.43 percent, according to BPS.
Export of non-oil-and-gas products in the first quarter this year rose 46.7 percent to $28.9 billion from the same period in 2009, said BPS. Exports of mining and other products rose 96.1 percent, while export of industrial products rose 37.5 percent and agriculture products 15.2 percent.
Taking March data only, exports rose 46.6 percent from the same month a year earlier. On a month-to-month basis, exports grew by 13.1 percent to $12.6 billion from the level in February.
Exports of non-oil-and-gas products in March rose 18.4 percent from February to $10.7 billion.
Finance Minister Sri Mulyani Indrawati said Indonesia’s economy could expand more than 5.8 percent on stronger exports and investment this year.
On Sunday the Investment Coordinating Board announced foreign investment in the first quarter this year rose 42 percent from a year earlier to Rp 35.4 trillion ($3.93 billion). But domestic investment dropped 23 percent to Rp 6.7 trillion.
BPS also announced in the first quarter this year that import growth showed a significant movement as domestic demand improved. Between January and March import growth reached 57.3 percent to $30 billion from the same period in 2009. Import of non-oil-and-gas products reached $23.8 billion, a 57.3 percent rise from the January-March period last year. Indonesia mostly imported goods from China ($4.1 billion or 17.4 percent of total market share), Japan ($3.6 billion or 15 percent market share) and Singapore ($2.5 billion or 10.6 percent), BPS said.
Import of consumer goods showed the most significant increase of 63.4 percent, while imports of raw materials rose 62.3 percent and capital goods 39.7 percent.
