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Thailand becomes a top RI supplier
A minister says that Thailand — Southeast Asia’s second largest economy — is now one of Indonesia’s major suppliers due to a significant increase in local imports of Thai cars and car components
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minister says that Thailand — Southeast Asia’s second largest economy — is now one of Indonesia’s major suppliers due to a significant increase in local imports of Thai cars and car components.
Trade Minister Mari Elka Pangestu said on Wednesday that Thailand replaced South Korea as Indonesia’s fifth largest source of imports in January.
“This is interesting. Thailand is getting more important for us. It is likely related to our automotive industry,” she said during a press conference in Jakarta.
According to the Central Statistics Agency (BPS), Indonesia’s imports from Thailand rose 11.60 percent to US$693.7 million in January, up from $621.6 million in December and up 43.95 percent from $481.9 million in the same period last year.
Imports from Thailand contributed 6.85 percent to total Indonesian imports of $9.58 billion in January.
China contributed 18.95 percent to Indonesia’s imports in January valued at $1.82 billion and Japan contributed 14.4 percent valued at $1.38 billion in the same period.
Mari said that the nation’s imports were $9.58 billion in January, down 8.8 percent from $10.5 billion in December but up 26.8 percent from $7.55 billion in the same period last year.
“Imports increased by almost 27 percent. This can partly be attributed to the recovery of investments that started last year,” she said, adding that this was reflected by surging imports of raw materials and capital goods.
Indonesia’s imports of raw materials, for example, reached $9.42 billion in January, up 33.68 percent from $7.05 billion in the same period last year.
Mari added that imports of consumption goods increased sharply by 64.77 percent to $1.03 billion, up from $625 million in January 2010.
“The rise in imported consumption goods is related to economic growth and improved purchasing power. In 2010, our per capita income topped $3,000, resulting in stronger purchasing power for the people,” she said.
Mari said that exports were $14.45 billion in January, down 14.11 percent from $16.83 billion in December. Exports to the nation’s principal trading partners, such as China, Japan and the US, dropped by $551.1 million, $508.3 million and $44.8 million respectively.
“The decrease is only seasonal. Many countries tend to keep stocks high at the end of the year and this causes high exports. But at the beginning of the next year exports usually drop,” Deputy Trade Minister Mahendra Siregar said.
On a year-on-year basis exports increased 24.65 percent to $14.45 billion in January, up from $11.6 billion in the same period last year.
“Rising exports of nature-based products, such as CPO [crude palm oil], cacao and fisheries products, were mainly caused by increased prices. Manufactured products, such as textiles, footwear, electronics and automotive products, were driven by higher export volume,” Mari said.
The US, Japan, China, Malaysia and Singapore were still the main destinations for Indonesian products, she said.
Indonesia’s exports to Japan reached $1.21 billion and comprised 10.13 percent of total exports in January, while exports to China topped $1.15 billion, or 9.66 percent of total exports in the same period. However Indonesia suffered a $169.8 million trade deficit with Japan and a $662.5 million deficit with China in the same period, according to the BPS.
Overall, Indonesia’s trade balance posted a surplus of $1.91 billion, resulting from a $2.36 billion surplus in non-oil exports and a deficit of $453.6 million in oil imports. (lnd)
