Indonesia's manufacturing PMI jump indicates export optimism: minister

Indonesia's manufacturing PMI jump indicates export optimism: minister

Indonesian Trade Minister Muhammad Lutfi has said that the trend of recovery in Indonesia's economy has continued after the second COVID-19 wave.

Jakarta (ANTARA) - Minister of Trade Muhammad Lutfi has said that the rise in the manufacturing Purchasing Managers' Index (PMI), which reached 52.2 in September 2021, reflects increasing export optimism.

"The optimism for increasing exports is shown by the manufacturing Purchasing Managers' Index (PMI) jump in September 2021, which is in the position of 52.2. The position has again entered an expansionary period after experiencing contraction for the previous two months," Minister Lutfi said in a statement here on Wednesday.

The trend of recovery in Indonesia's economy has continued after the second COVID-19 wave, he noted. This has been reflected in the trade balance data for September 2021, which again recorded a surplus of US$4.37 billion, the minister added.

The surplus was supported by a non-oil and gas balance surplus of US$5.30 billion and an oil and gas balance deficit of US$0.93 billion, Lutfi said.

September's trade balance surplus was in keeping with the positive trend observed since May 2020, he noted. However, the figure was lower than the surplus of US$4.75 billion recorded in the previous month, he pointed out.

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This year, the trade surplus for the January-September period totaled US$25.07 billion and comprised a non-oil and gas trade balance surplus of US$33.48 billion and an oil and gas deficit of US$8.40 billion, the minister informed.

Indonesia's trading partner countries which contributed the most to its trade surplus were the United States (US), India, and the Philippines, with total surplus reaching US$2.68 billion, Lutfi said.

Meanwhile, Australia, Thailand, and Ukraine contributed the most to the trade deficit, with total deficit touching US$0.91 billion, he added.  

 

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