'Exports down, imports up in August'<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The Central Statistics Agency (BPS) said on Tuesday
\nexports declined by 2.27 percent to US$4.90 billion in August
\nfrom $5.01 billion in the previous month, while imports increased
\nto $2.82 billion from $2.60 billion.<\/p>\n
BPS deputy chief Slamet Mukeno said the higher imports were
\npropelled by import of machinery, raising expectations that the
\ncountry's manufacturers were gearing up to boost exports in the
\ncoming months.<\/p>\n
Out of 10 main items, machinery occupied the biggest
\ncontributor for the overall increase in imports, in which
\nmachinery import increased 18.13 percent in August.<\/p>\n
"This shows positive signs that exports could pick up in three
\nmonths time," said Slamet.<\/p>\n
Indonesia's production system is heavily dependent on the
\nimport of capital goods and raw materials.<\/p>\n
But economist Raden Pardede said that it was too early to
\nconclude that the higher import of machinery would lead to higher
\nexports.<\/p>\n
He pointed out that the manufacturers may not necessarily
\ntarget the export market.<\/p>\n
"More data is needed to come up with a clearer picture of the
\nexport outlook," he said.<\/p>\n
Indonesia's export performance has been weakening during the
\npast couple of months amid the global economic slowdown. Exports
\nare crucial to help push the country's economic growth to 5
\npercent next year from the projected 4 percent this year. So far,
\neconomic growth has been mainly relying on domestic consumption.<\/p>\n
BPS said that the lower exports and higher imports led to a
\n13.7 percent decline in trade surplus to $2.08 billion.<\/p>\n
The agency said that the export decline was caused by a 3.7
\npercent fall in non-oil and gas exports to $3.88 billion from
\n$4.03 billion.<\/p>\n
It said that oil and gas exports actually increased to $1.01
\nbillion from $978.5 million.<\/p>\n
BPS said that from January to August, exports fell to $37.35
\nbillion from $39.34 billion in the same period last year.<\/p>\n
The agency said that the U.S., Japan, and Singapore remained
\nthe country's largest export destinations.<\/p>\n
Exports to the U.S. fell sharply to $562.6 million from $647.4
\nmillion in July, while exports to Japan rose to $603.6 million
\nfrom $535.6 million.<\/p>\n
Exports to Singapore fell 27 percent from July to $341.9
\nmillion in August.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/exports-down-imports-up-in-august-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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