Helped by the Price, the Trade Balance in August Got Surplus US$ 2,3 Billion

Helped by the Price, the Trade Balance in August Got Surplus US$ 2,3 Billion

InfoSAWIT, JAKARTA – Minister of Trade, Agus Suparmanto emphasized that the trade balance in August 2020 was surplus for about US$ 2,3 billion. This is the third hit in 2020 after it got surplus in July reaching US$ 3,2 billion, and February reaching US$ 2,5 billion.

“The trade balance in August 2020 was surplus reaching US$ 2,3 billion. The decreasing demands globally pressed the exports in August 2020. But the export values relatively decreased in small numbers compared to the decreasing volumes. This indicated that the exports from Indonesia were helped by the price commodities globally which were relatively good,” he said, as in the official statement to InfoSAWIT recently.

Agus Suparmanto also mentioned that the trade balance in August 2020 helped the trade balance cumulatively in January-August 2020 which reached US$ 11,1 billion. The trade balance in January-August 2020 was hardly the same with it in the whole year of 2017 that reached US$ 11,8 billion which was the highest one since 2012.

“This indicated that the trade in Indonesia still runs well to improve the economy nationally in the uncertain economy globally because of Covid-19 pandemic,” he said.

He also told that the exports of Indonesia in August 2020 reached US$ 13,1 billion or decreased 4,6% compared to the previous month (MoM). It happened in non-oil and gas exports, which reached 4,4% or US$ 0,6 billion.

He also said that the decreasing non-oil and gas exports in August 2020 happened for the decreasing main export commodities from Indonesia, such as, animal fat and oil, the materials of mineral, precious metal, and jewelry. The decreasing exports of mineral material happened for the decreasing coal price while the decreasing exports of animal fat and oil happened in China as the crude palm oil (CPO) importer country from Indonesia.

Meanwhile, non-oil and gas export products significantly increased in month, such as, ore, slag, metal ash (HS 26), products made of iron and steel (HS 73), vehicles and the spare parts (HS 87). The increasing ore, slag and metal ash happened for the increasing copper ore exports and the concentrate reaching 74,92%.

“The ore, slag, and metal ash (HS 26) were mostly to China. Based on the countries, non-oil and gas products were exported to England, Vietnam, Taiwan, Italy, and Thailand and they significantly increased. The optimism and positive sentiment from the consumers and the businessmen in some countries urged the increasing business,” Agus said.

He also told that in cumulative, the non-oil and gas values in January - August 2020 decreased 4,4% compared to January-August 2019 (YoY). While the volume significantly decreased up to 11,7%. The exports from Indonesia were relatively lucky because the commodity price globally did not get cheaper. The average price of non – energy commodity globally in January-August 2020 decreased 1,7% (YoY). It was better than the energy commodity groups which significantly decreased up to 34,5% (YoY).

Agus also explained that the imports to Indonesia in August 2020 reached US$ 10,7 billion or increased 2,6% compared to July 2020 (MoM). “The increasing imports in August happened for the increasing consumption goods and the other helping materials, 7,3% and 5,0% (MoM) for each. The modal goods imports decreased 8,8%,” Agus told. (T2)


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