Import increases 16.06%: BPS<\/p>\n
Tony Hotland, The Jakarta Post, Jakarta<\/p>\n
Imports in July escalated by 16.06 percent to US$4.11 billion
\nfrom $3.54 billion in the previous month, with non-oil and gas
\nimports at the highest since the economic crisis in 1997, the
\nCentral Statistics Agency (BPS) reported on Wednesday.<\/p>\n
BPS said that imports increased at a much higher rate of 33.34
\npercent from $18.63 billion in the same month of last year.<\/p>\n
The agency said non-oil and gas imports were up 14.03 percent
\nto $3.1 billion, while oil and gas imports were up 22.78 percent
\nto $1.01 billion.<\/p>\n
Non-oil and gas imports peaked in July with all of the 10
\nmajor imported goods showing enormous increases.<\/p>\n
The increases were primarily driven by imports of chemical
\norganic substances, vehicles and spare parts, machines and
\nelectrical equipment, and iron and steel products.<\/p>\n
Japan was the main source of imports, with imports valued at
\n$544.9 million, followed by China at $325.4 million, and
\nSingapore at $302.9 million.<\/p>\n
BPS chief Choiril Maksum said that the increase in imports
\ncould be seen as a positive sign for the economic outlook in the
\nnext three months as it most likely meant that industries using
\nthe imported materials would show robust performance.<\/p>\n
\"However, it must be observed that China was the second source
\nof imports in July. As we know, goods imported from China are
\nmostly for consumption instead of raw materials or capital goods,
\nand it's not good for our economy,\" he said.<\/p>\n
Imports of oil and gas in July also pushed higher due to the
\nsoaring global oil prices, which recorded a historic record high
\nat $49 per barrel a couple of weeks ago. Besides being an oil
\nexporting country, Indonesia is also an oil importer.<\/p>\n
Total imports during the first seven months of the year rose
\nby 33.34 percent to $24.84 billion, as against $18.63 billion
\nduring the same period last year.<\/p>\n
Raw materials account for 80.95 percent of total imports,
\nwhile capital goods for 10.96 percent and consumption goods for
\n8.09 percent.<\/p>\n
BPS said that exports in July fell slightly by 0.31 percent to
\nUS$5.68 billion from the previous month due to a drop in the
\nexport of crude oil, oil-based products and gas.<\/p>\n
But BPS said that compared to the same month last year,
\nexports increased by 7.68 percent.<\/p>\n
As imports grew stronger than exports, the country's trade
\nsurplus during the month fell to $1.57 billion from 2.15 billion
\nin June.<\/p>\n
BPS said that non-oil and gas exports went up 2.4 percent from
\n$4.34 billion in June to $4.44 billion, led by exports of
\nmachines and electrical equipments, non-knitted clothing,
\nartificial filament, as well as plastics and plastic-based
\nproducts.<\/p>\n
The main export destinations were Japan, the United States,
\nSingapore, and China, the four of which accounted for 44.12
\npercent of the total exports in July.<\/p>\n
Total exports from January to July reached $37.11 billion, or
\nup 3.88 percent compared to the same period last year, with Japan
\nbeing the number one destination for non-oil and gas products,
\nfollowed by the U.S. and Singapore.<\/p>\n
Exports of industrial products during the period rose by 3.32
\npercent, while exports of agriculture and mining products slipped
\nby 2.05 percent and 2.17 percent respectively.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/import-increases-1606-bps-1447893297",
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