Indonesia`s Exports Down 19 Percent in June

Jakarta,MINA — Indonesia`s exports fell 19.8 percent to around US$13 billion in June 2018 from $16.2 billion a month earlier, Antra News reported, quoting the Central Statistics Agency (BPS)

Speaking at a press conference here on Monday, BPS Chief Suhariyanto stated that non-oil/non-gas exports declined 22.57 percent from $14.57 billion to $11.28 billion. However, oil and gas exports rose 4.67 percent from $1.64 billion to $1.72 billion.

The June 2018 exports increased 11.47 percent compared to the same month last year.

“The drop in export value, coinciding with Lebaran (post-fasting month festivities), is something normal due to the long holidays,” he remarked.

He added that the fluctuation of commodity prices in the international market also has an impact on the export value. The BPS noted that the prices of several non-oil/non-gas commodities, including coal, nickel, and aluminum, in the global market have increased in June 2018.

However, the prices of several other commodities, including palm oil, gold, and rubber, have declined. The Indonesian Crude Price (ICP) also fell to $70.36 per barrel in June 2018 from $72.6 per barrel the month before.

Therefore, the increase in non-oil and gas exports chiefly resulted from a 4.22 percent rise in crude oil price to $544.2 million and a 15.45 percent surge in gas exports to $1.05 billion.

The agency noted that the export of vehicles and spare parts recorded the greatest shortfall at $241.1 million or 36.21 percent, while the export of mineral fuel saw the greatest increase at $119 million or 6.11 percent.

Cumulatively, the June 2018 exports brought the country`s exports in the first half of 2018 to $88.02 billion, up 10.03 percent compared to $80 billion in the same period last year.

By sectors, the country`s export of farm products in June 2018 dropped 35.20 percent to $200 million compared to May 2018 and fell 25.31 percent compared to June 2017.

The mining sector saw a 1.08 percent rise to $2.53 billion in June 2018 compared to May 2018 and a 58.53 percent surge compared to June 2017. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)