First quarter exports increase by 15.83%: BPS<\/p>\n
A'an Suryana, The Jakarta Post, Jakarta<\/p>\n
Indonesia's export earnings in the first quarter of this year
\nincreased by 15.83 percent to US$14.87 billion, mainly due to a
\njump in the value of oil and gas exports, the Central Bureau of
\nStatistics (BPS) said on Thursday.<\/p>\n
The BPS said that oil and gas exports increased by 39.08
\npercent, while non-oil and gas exports rose by only 9.74 percent.<\/p>\n
It said that the higher non-oil and gas exports mainly
\noccurred in March, with exports of this category being
\ntraditionally higher during the last part of the quarter.<\/p>\n
The BPS said that exports in March increased by 3.85 percent
\nto $5.07 billion compared to the level in February, mainly due to
\nhigher non-oil and gas export revenues. Oil exports in this
\nperiod declined due to lower oil prices compared to the level in
\nthe previous month.<\/p>\n
The government has been hoping that the country's export
\nperformance would improve this year to help meet the 4 percent
\neconomic growth target.<\/p>\n
But some analysts have doubts that exports can be pushed
\nhigher this year due to rising global uncertainty and tougher
\ncompetition from other countries in the region. They say that
\nbecause of the weak export and investment prospects, the economy
\nwould likely grow by only 3.3-3.4 percent this year, thus
\nworsening the unemployment situation here.<\/p>\n
The government hoped rising prices for the country's main
\nexport commodities could help meet the target.<\/p>\n
Meanwhile, the BPS also said that imports in the first quarter
\nincreased by 29.40 percent to $8.58 billion.<\/p>\n
But imports in March declined by 2.53 percent to $2.88 billion
\ncompared to the level in February, which may suggest that the
\nglobal uncertainty had already started to affect local companies,
\nwith a resultant slowdown in the importation of raw materials.<\/p>\n
The recent war in Iraq, analysts said, had hurt business
\nconfidence in the country, while gloomy prospects in the job
\nmarket were also affecting consumer confidence.<\/p>\n
The World Bank has said that slowing manufacturing activity
\nwould limit this year's economic growth at less than the
\ngovernment's target.<\/p>\n
Falling imports, however, made the trade surplus in March
\nincrease to $2.19 billion from $1.92 billion in February.<\/p>",
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