Indonesia`s Import Growth Slower But Still Too High, Minister Says
Jakarta, MINA — Finance Minister Sri Mulyani Indrawati said the government policy restricting imports resulted in a lower growth in September but remained relatively large in value Antara News reported.
“Though slower in growth year-on-year, imports still grew 14 percent. That is still high,” Sri Mulyani said here on Monday.
The minister said she was glad to note that trade balance improved according to the Central Bureau of Statistics (BPS) especially for trade in commodities other than oil and gas.
“The condition in September was positive although oil and gas trade remained negative,” she said.
She said she hoped the requirement to use biofuel 20 (B20) would be effective in bringing down oil fuel imports and consumption.
The government has required the use of B20 (crude palm oil making up 20 percent of a mixture with diesel oil) in place of automotive diesel oil for transport fuel in a bid to cut imports of oil fuel.
“The trend is right although the rate has to be accelerated,” the minister said.
She said she hoped the country`s manufacturing industry would grow faster that export growth would be higher.
BPS recorded that the country`s foreign trade favo9red the country with a surplus of US$230 million month on month.
“This is an improvement from last month when a deficit of US$1.02 billion was recorded,” a deputy at the BPS Yunita Rusanti said.
Imports in September were valued at US$14.60 billion as against exports of imports of US$14.83 billion which fell 6.58 percent from US$15.18 billion in August.
Exports of oil and gas dropped 15.8 percent from US$1.43 billion to US$1.21 billion and exports of other commodities fell 5.67 percent from US$14.44 billion to US$13.62 billion.
The government, concerned with falling value of the country`s currency rupiah against the U.S. dollar has restricted imports in a bid to redress its trade balance.
Deficit in international trade has contributed to widening the country`s current account deficit resulting in falling value of rupiah. .. (T/RS5/RS1)
Mi’raj Islamic News Agency (MINA).
