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November's deficit due to investment, agency says
The Central Statistics Agency (BPS) head Suryamin (center) in a press conference
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The Central Statistics Agency (BPS) head Suryamin (center) in a press conference (Antara) (BPS) head Suryamin (center) in a press conference (Antara)
The Central Statistics Agency (BPS) head Suryamin (center) in a press conference. (Antara)
The
Central Statistics Agency (BPS) announced a US$346.6 million trade
deficit in November, breaking the streak of a 10-consecutive-month trade
surplus, caused by an increase of imports to the value of $11.5
billion, especially in investment goods.
"This is the first time
Indonesia's trade recorded a deficit in November, ['¦] consisting of a
$58.6 million oil and gas trade deficit and a $287.8 million non-oil and
gas trade deficit. However, we still recorded a surplus cumulatively,"
said BPS head Suryamin in a press conference in Jakarta on Tuesday.
The
November deficit, he said, brought the year-to-date surplus figure to
$7.81 billion, resulting from $138.42 billion in exports and $130.6
billion in imports.
According to BPS data, imports rose 3.6
percent month-on-month (MoM) in November because of a hike of imports in
investment-related goods.
"Four commodities related to
investment recorded increased imports. Machinery and electrical tools
[imports] rose 11.7 percent, iron and steel rose 17.6 percent, vehicle
and spare parts rose 0.96 percent, and iron and steel products rose
21.79 percent," he told.
In addition, he added, food and beverage
imports also increased in November as businesspeople prepared to meet
the growing demand of the Christmas and New Year holidays.
On the
other hand, exports plunged 7.91 percent last month (MoM). According to
Suryamin, the fall in exports was caused by decreased exports of
non-oil and gas commodities, which retreated by 10.81 percent (MoM).
The
decline in non-oil and gas exports especially occurred with fats and
edible oils, amounting to $152.8 million. 'On the other hand, footwear
exports recorded the largest increase, up to $65.3 million," Suryamin
stated.
Meanwhile, oil and gas exports in November managed to
increase by 14.67 percent (MoM), caused by an increase of crude oil by
41.25 percent and gas by 0.6 percent. In the same period, exports of oil
products fell 10.36 percent. (ags)(+)
