Indonesia earns US$161.3 million as trade surplus in October

Indonesia earns US$161.3 million as trade surplus in October

Head of BPS, Suhariyanto (left), delivers monthly trade balance report to the press during a conference at BPS office in Jakarta, Friday, November 15, 2019. (ANTARA/M Razi Rahman)

The surplus on the balance of trade will likely help to improve the deficit trade later
Jakarta (ANTARA) - Indonesia earned US$161.3 million as trade surplus in October 2019, following exports reaching $14.93 billion while the import value was $14.77 billion, The Central Statistic Agency (BPS) report has stated. The surplus on the balance of trade will likely help to improve the deficit trade later, Head of BPS, Suhariyanto, told the press during the conference at the BPS office in Jakarta, Friday.

The surplus value was reached from the export of non-oil and gas sectors totaling $990.5 million, while the oil and gas sector ran a trade deficit of $829.2 million, according to the report.

The exports had increased by 5.92 percent from a month before and had simultaneously slightly narrowed by 2.48 percent as against the same period last year.

Export of non-oil and gas sectors on October 2019 was recorded at $14.01 billion, increasing 5.56 percent as against September 2019, while it fell 2.48 percent as compared to October 2018.

Countries with the biggest export figures were China at $2.77 billion, followed by the United States at $1.53 billion and Japan with $1.24 billion, worth 39.55 percent of the total value.

Cumulative counting of export value from January to October 2019 was recorded at $139.11 billion, a decrease 7.8 percent compared to the same period in 2018, of which non-oil and gas sectors contributed $128.76 billion.

While imports of $14.77 billion in October 2019 had increased 3.75 percent from September 2019, they fell quite significantly by 16.39 percent as against October 2018.

China was the country with the highest imports of $36.32 billion to Indonesia during the cumulative period from January to October 2019 or 29.46 percent of the total import value.

Japan and Thailand followed with the imports of $13.28 billion or 10.77 percent, and $7.92 billion or 6.42 percent, respectively. (INE)

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