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BPS predicts export drop in July due to Idul Fitri holiday
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Containers wait at the Jakarta International Container Terminal (JICT) at Tanjung Priok Port in North Jakarta. (Tempo/Tony Hartawan)
T
he Central Statistics Agency (BPS) has predicted that exports will record a drop in July due to reduced trade and industry activities during the Idul Fitri holiday.
"Many factories are still closed and farmers are still enjoying the holiday. [Exports] are likely to decline due to the seven to 10 days without production activities," BPS deputy head of distribution and statistics Sasmito Hadi Wibawa said in Jakarta on Friday.
This phenomena happens every year in the month in which Idul Fitri occurs, he added. "Either it occurs in the beginning, middle or end of the month, it definitely affects exports," he said.
Last year, Idul Fitri also occurred in July, causing the country’s exports to drop to $11.4 billion, a 15.5 percent decline from June when they stood at $13.5 billion.
However, the slowdown will not affect the trade surplus in July although imports are assumed to rise in the same month, he added.
Indonesia posted $12.92 billion in exports in June, the highest level since July 2015, when the figure stood at $11.4 billion, a 12.18 percent increase from May's export figures
Imports in June also experienced a 7.86 percent month-on-month increase to $12.02 billion. In total, the country recorded a trade surplus of $900 million in June, a significant increase compared to the $375.6 million surplus in May. (bbn)
