Exports up in first five months of year: BPS<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
A surge in demand for industrial products and high global metal
\nprices caused exports in the first five months of the year to
\njump 30.79 percent from the same period last year, according to
\nthe Central Statistics Agency (BPS).<\/p>\n
In announcing the results of its latest report on Friday, the
\nBPS said exports from January to May reached US$33.88 billion,
\nwith non-oil and gas exports rising 34 percent to $26.56 billion
\nfrom the corresponding period in 2004. That sector accounts for
\nmore than three-fourths of the total revenue from the country's
\ninternational trade.<\/p>\n
Sales of oil and gas rose 20.28 percent in the period to
\n$7.313 billion, the report said.<\/p>\n
The overall good performance of the country's exports could
\nindicate record-high exports this year. \"Export figures may rise
\neven further,\" said BPS chief Choiril Maksum. \"They may reach
\nsome $70 billion by the end of the year.\"<\/p>\n
Indonesia's exports grew to an historic high of $69.71 billion
\nlast year, up 11.49 percent from 2003, boosted by strong sales of
\nthe non-oil and gas commodities of palm oil, electronics,
\nclothing, coal and tin.<\/p>\n
The trend has continued this year, with exports from the
\nindustrial sector, which account for 66 percent of total exports,
\nexpanding by 27.64 percent to $22.5 billion between January and
\nMay.<\/p>\n
The ores, slag and ash group claimed the highest increase in
\nthe first five months of the year, as their exports more than
\ndoubled to $1.28 billion from the same period in 2004.<\/p>\n
The mineral fuels group, which includes coal, also showed
\nimpressive growth of 70 percent, increasing its exports value to
\n$1.52 billion.<\/p>\n
The country's trade balance stood at a surplus of $10.3
\nbillion in the first five months of the year, with imports
\nregistered at $23.57 billion.<\/p>\n
Year-on-year, the $7.21 billion in exports in May was a 31.16
\npercent increase from May last year. Imports were recorded at
\n$4.96 billion for the month, 54 percent higher than the $3.22
\nbillion in the same period in 2004.<\/p>\n
The May trade surplus stood at $2.25 billion.<\/p>\n
However, the upward trend in exports, which boosted the trade
\nsurplus, has not translated into a stronger rupiah, which has
\nbeen on a weaker footing against the greenback since the start of
\nthe year.<\/p>\n
Analysts have said, as confirmed by the central bank, that
\nlarge chunks of the export proceeds have never made their way
\ninto the country's foreign exchange reserves -- which could have
\nhelped bolster the rupiah -- instead remaining stashed abroad,
\nintended by exporters to ensure a quick flow of transactions.<\/p>\n
The rupiah was down for the fifth straight session on Friday,
\nclosing at Rp 9,770 against the dollar from Rp 9,758 on Thursday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/exports-up-in-first-five-months-of-year-bps-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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