Sunday , October 17 2021

October Trade Gap Rises to $ 1.82 Billion



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October Trade Gap Rises to $ 1.82 Billion
President of the Central Statistical Institute (BPS) Suhariyanto made a presentation at a press conference organized by Indonesia's Economic Growth quarter II / 2018, Jakarta (08/08/2018). – JIBI / Felix Jody Kinarwan

I Bisnis.co, JAKARTA – Central Statistical Institute (BPS), in line with the increase in import movements, announced the trade balance deficit of Indonesia as US $ 1.82 billion in October 2018.

The deficit was due to the export balance position, which was lower than the import balance value of USD 15,80 billion or USD 17,63 billion.

President of Central Statistical Institute of Keçük (BPS) Suhariyanto said that this deficit came from oil and natural gas deficit with a deficit of US $ 10.7 billion between January and October.

"So our big assignment is how to reduce this gap," Kecuk said on Thursday, 11/15. Said.

He hopes there will be a new policy in the future that touches on the service balance sheet.

Between January and October 2018, the trade balance gave a deficit of US dollar 5.5 billion, according to the calendar year. In this open position, the oil and gas balance deficit was US $ 10.7 billion and the oil deficit reached US $ 13.21 billion.

On the other hand, export value increased by 5.87% from September to October, supporting oil and natural gas and non-oil exports and reached USD 15,80 billion.

Oil and natural gas exports increased by 15.38% to US $ 1.48 billion.

Meanwhile, oil and natural gas exports increased by 4.99 percent to $ 14.32 billion, supported by the role of jewelry and jewelry, footwear and mineral fuel exports.

According to the sector, in October, agricultural exports decreased by 0.92% to US $ 320 million due to falling cocoa, pearl and vegetable exports. On an annual basis, agricultural exports decreased by 9.52% with the decline in exports of coffee, cocoa and pearls.

Exports increased by 6.40% to US $ 11.59 billion with the contribution of exports of exports, jewelry, sports shoes, vehicles and accessories.

On an annual basis, the export sector increased by 5.71%. Mining exports decreased by 0.58% in October compared to the same period of the previous year to USD 2.41 billion and fell 1.58% year-on-year.

Despite the fall, Keçük said the mining sector and other contributions were quite high, increasing by US $ 24.70 billion in January-October, up 27.46 percent to $ 19.38 billion in the same period last year.

The import balance increased by USD 17.63 billion, or 20.6% in October 2018. This increase increased 26.97% in petroleum and natural gas imports and reached US dollar 2.91 billion.

Len It is triggered by the value of crude oil and oil products and gas, K Kecuk said.

Non-oil and natural gas imports increased by 19.42% to US $ 14.71 billion.

According to the sector, export consumption increased by 13.28% compared to the previous month and rose to 13.48 US dollars due to the increase in fruit imports such as the importation of mandarin orange wine and lifesaver boats. On a year-on-year basis, imports increased to 20.04%.

Kecuk is expected to show an improvement in consumption in the country while it is expected to be reflected in forward economic growth.

Imports of raw materials increased by 22.59% to US $ 13.37 billion and annual increase to 23.10%.

BPS said that imports of capital goods have risen to US $ 2.75 billion, still rising by 15.57%, driven by large machinery imports.

According to Kecuk, this was due to the completion of local infrastructure projects.

Between January and October 2018, Kecuk said that imports of oil and natural gas stemmed from imports of iron and steel, as well as machinery, electrical equipment and mechanical aircraft, with an increase of 22.58%.

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