Indonesia posted a trade surplus of 3.26 billion USD in July (Photo: AFP) Jakarta (VNA)– Indonesia recorded 3.26 billion USD in trade surplus in July, a nine-year high,as the export value reached 13.72 billion USD while imports were 10.46 billionUSD.
Coordinating Ministerfor the Economy Airlangga Hartarto said recently that the July surplus wasmainly influenced by improved export performance, particularly non-oil and gasexports, and reduced demand for imports of consumer goods.
Severalcommodities that contributed to exports in the industrial sector includeprecious metals, jewelry/gems, vehicles, iron and steel, as well as electricalmachinery and equipment.
Thismeans that Indonesia’s main export commodities are still highly competitiveamid the decline in global demand as a result of the COVID-19 pandemic, theofficial noted.
Meanwhile, main import items include consumergoods (accounting for 10.63 percent of total imports last month), capital goods(18.79 percent), and raw/auxiliary materials (70.58 percent).
Imports of consumer goods experienced a declinein demand by 21.01 percent month on month to 1.11 billion USD, which is partlyattributed to the success of the programme to increase the consumption ofdomestically produced goods.
The decline in imports of raw/auxiliarymaterials is also expected to provide opportunities for domestic industries/businessactors to be able to supply them and take over the share of imports. Besides, theincrease in imports of capital goods is a positive signal in line with the risein the Manufacturing Purchasing Managers Index (PMI), which shows thatproduction activity has also begun to increase, according to the CoordinatingMinister for the Economy./.
Coordinating Ministerfor the Economy Airlangga Hartarto said recently that the July surplus wasmainly influenced by improved export performance, particularly non-oil and gasexports, and reduced demand for imports of consumer goods.
Severalcommodities that contributed to exports in the industrial sector includeprecious metals, jewelry/gems, vehicles, iron and steel, as well as electricalmachinery and equipment.
Thismeans that Indonesia’s main export commodities are still highly competitiveamid the decline in global demand as a result of the COVID-19 pandemic, theofficial noted.
Meanwhile, main import items include consumergoods (accounting for 10.63 percent of total imports last month), capital goods(18.79 percent), and raw/auxiliary materials (70.58 percent).
Imports of consumer goods experienced a declinein demand by 21.01 percent month on month to 1.11 billion USD, which is partlyattributed to the success of the programme to increase the consumption ofdomestically produced goods.
The decline in imports of raw/auxiliarymaterials is also expected to provide opportunities for domestic industries/businessactors to be able to supply them and take over the share of imports. Besides, theincrease in imports of capital goods is a positive signal in line with the risein the Manufacturing Purchasing Managers Index (PMI), which shows thatproduction activity has also begun to increase, according to the CoordinatingMinister for the Economy./.
VNA
