February exports decline by 0.85 percent: BPS<\/p>\n
A'an Suryana, The Jakarta Post, Jakarta<\/p>\n
Indonesia's exports in February declined by 0.85 percent to
\nUS$4.88 billion from $4.92 billion in January, the Central Bureau
\nof Statistics (BPS) reported.<\/p>\n
BPS warned that exports in the coming months would continue to
\ndecline due to the war in Iraq.<\/p>\n
\"It is likely that Indonesian exports to the United States
\nwill be badly affected by the Iraq war,\" said Slamet Mukeno,
\ndeputy chief of BPS, during a press conference on Tuesday.<\/p>\n
He did not elaborate, but experts have said that a lengthy war
\nwould threaten the already fragile world economy, which would
\naffect the export industry.<\/p>\n
The U.S. is one of Indonesia's main export markets. Export
\ngrowth is crucial for Indonesia to achieve overall economic
\ngrowth.<\/p>\n
BPS said the fall in month-on-month exports in February was
\ncaused by a 2.79 percent drop in non-oil and gas exports to $3.6
\nbillion.<\/p>\n
This was in contrast to a 5.18 percent increase in oil and gas
\nexports to $1.3 billion during the month, thanks to higher oil
\nprices in the international market and a larger crude export
\nvolume.<\/p>\n
BPS said the price of Indonesian crude oil in the
\ninternational market in February rose to an average of $32.04 per
\nbarrel from $31.35 in January.<\/p>\n
BPS, however, said exports during the January-February period
\nrose 18.34 percent to $9.8 billion from $8.28 billion in the same
\nperiod last year.<\/p>\n
The increase was attributed to an 11.25 percent increase in
\nnon-oil and gas exports to $7.35 billion from $6.61 billion, and
\na 46.23 percent jump in oil and gas exports to $2.45 billion from
\n$1.68 billion.<\/p>\n
Non-oil and gas commodities that accounted for the greatest
\nexport value in the first two months of this year were
\nelectricity equipment and machinery valued at $942.2 million, and
\nwood and furniture valued at $506.5 million.<\/p>\n
In January and February, the United States remained the main
\ndestination for Indonesia's exports, accounting for $1.16
\nbillion, followed by Japan at $1.07 billion and Singapore at
\n$718.5 million.<\/p>\n
Elsewhere, BPS reported that imports rose 2.03 percent
\nto $2.96 billion from $2.9 billion.<\/p>\n
BPS chief Soedarti Surbakti said the country's trade surplus,
\ntherefore, declined by 4.47 percent to $1.92 billion in February
\nfrom $2.02 billion in January.<\/p>\n
Meanwhile, BPS said the economy saw month-on-month deflation
\nof 0.23 percent in March.<\/p>\n
This was attributed to declining prices for goods and
\nservices, after prices peaked during religious festivities late
\nlast year and early this year.<\/p>\n
BPS said food prices fell by 2.26 percent, clothing prices by
\n0.05 percent and the cost of education, leisure and sports
\nactivities by 0.13 percent.<\/p>\n
BPS said the on-year inflation in March was 7.12 percent,
\nwhile inflation for the first three months of this year was 0.77
\npercent.<\/p>\n
The government is projecting inflation to reach about 9
\npercent this year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/february-exports-decline-by-085-percent-bps-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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