RI exports up by nearly half for Jan-May period: BPS

Indonesia’s exports continued to increase during the first five months of this year despite a slower-than-expected economic recovery in the country’s major trading partners.

The Central Statistics Agency (BPS) reported Thursday that Indonesia’s total exports reached US$60.10 billion between January and May this year — a 47.68 percent increase over the same period last year, thanks to a significant increase in non-oil exports, which increased 39.93 percent to $48.93 billion over the same period.

“However, if compared to May last year, the increase in the country’s total exports reached 36 percent,” BPS’s head Rusman Heriawan said during the announcement.

On monthly basis, total exports rose by 4.06 percent to $12.51 billion in May from $12.03 billion in April. Non-oil and gas exports were $10.25 billion, an increase of 4.30 percent from $9.83 billion in April. Oil and gas exports rose 2.97 percent to $2.27 billion from $2.20 billion in April, the agency said.

Rusman said that the increase in oil and gas exports in May was also due to growth in crude oil exports, which rose by 4.63 percent to $783.7 million from $749 million in April, and a surge in exports of fuel products, which rose by 17.22 percent to $382.7 million from $326.5 billion.

Exports of gas declined by 2.26 percent to $1.10 billion in May from $1.12 billion in April due to a decline in LNG shipments.

According to Pertamina and BP Migas, the volume of exports of crude oil and gas increased 15.62 percent and 0.02 percent respectively in May as compared to the previous month, while the exports of fuel products decreased 11.76 percent.

The average price of Indonesian crude oil reached $77.02 per barrel in May, decreasing from $85.54 per barrel the previous month. Rusman said exports to major industrialized countries continued to increase despite a slowdown in economic growth.

According to BPS, non-oil and gas exports to Japan reached $1.41 billion in May, the largest when compared to other export destinations. The US was the second largest buyer, contributing $1.05 billion to total non-oil and gas exports in May. China, in third place, contributed $1.01 billion.

The country’s total imports in May decreased by 10.5 percent from May, he said.

“In April, we saw a decrease in exports and an increase in imports. Now we have an increase in exports and a sharp decrease in imports,” he said.

Non-oil and gas imports in May reached $8.03 billion, a 7.89 percent decrease from the previous month, The imports were mostly machinery. Mechanical equipment imports decreased by 16.69 percent, reaching $1.42 billion.

China was the biggest exporting country to Indonesia between January to May, reaching $7.13 billion, or 17.63 percent, of the total imports, followed by Japan with $6.11 billion (15.10 percent) and Singapore with $4.02 billion (9.92 percent).

“We have seen a only a 5 percent decrease in raw material imports. It’s a signal that our manufacturing industry hasn’t been slowing down, especially for the industries that depend on imported raw materials,” he said. (ebf)