RI books trade surplus of US$1.97 billion in March<\/p>\n
JAKARTA (JP): Indonesia booked a surplus of US$1.97 billion in
\nits foreign trade in March, partly due to a sharp drop in
\nimports, Minister of Trade and Industry Rahardi Ramelan said
\nyesterday.<\/p>\n
The minister said total exports rose 6 percent to $4.33
\nbillion in March over the same month last year.<\/p>\n
But the country, he said, still booked a surplus in its
\nforeign trade despite the small increase in exports.<\/p>\n
Imports, including non-oil and gas commodities, dropped 35.18
\npercent to $2.37 billion over the same period last year.<\/p>\n
The minister said that in the 1997\/1998 fiscal year, which
\nended in March, Indonesia recorded a 115.61 percent increase in
\nits trade surplus to $15.10 billion<\/p>\n
\"It looks good, but there is also a report on (non-oil and
\ngas) exports to our major destination countries. Non-oil exports
\nto the U.S., for the first two months of this year, grew only
\n3.22 percent, to Japan they dropped 22.19 percent, to the
\nNetherlands 18.62 percent, to Germany 7.1 percent, to South
\nKorea 28.75 percent and to England 11.65 percent,\" Rahardi said
\nafter attending a 3.5-hour monthly cabinet meeting on the
\neconomy, finance and industry at the Bina Graha presidential
\noffice.<\/p>\n
Rahardi held a joint press conference after the meeting with
\nMinister of Information Yunus Yosfiah, Minister of Cooperatives
\nand Small Enterprises Adi Sasono, Minister of Finance Bambang
\nSubianto and Minister of Agriculture Soleh Solahuddin.<\/p>\n
The Central Bureau of Statistics disclosed Monday that
\nIndonesia booked a trade surplus of $5.09 billion during the
\nfirst quarter of this year, with exports reaching $12.29 billion
\nand imports $7.2 billion.<\/p>\n
The bureau said the country's month-to-month inflation rate
\nrose 5.24 percent in May, bringing the total increase in the
\nconsumer price index to 40.06 percent for the first five months
\nof 1998.<\/p>\n
Rahardi said the government plans to import 3.1 million tons
\nof rice this year as the State Logistics Agency (Bulog) had said
\nthat its domestic rice procurement this year would not likely
\nexceed 250,000 tons of rice.<\/p>\n
In encouraging farmers to boost their productivity the
\ngovernment has also raised the floor price of unhusked rice to Rp
\n1,000 per kg, compared to the previous price of Rp 700, he noted.<\/p>\n
\"In a bid to save our foreign exchange reserves, we will
\nmaximally use international food assistance in the importation of
\nrice,\" Rahardi said.<\/p>\n
The government also has to import at least 1.3 million of
\nsugar this year because its domestic production will be only
\nabout 1.8 million tons.<\/p>\n
\"Our sugar need in 1998 is about 3.1 million tons,\" Rahardi
\nnoted.<\/p>\n
The government will also have to bring in 500,000 tons of corn
\nbecause its production is expected to be only 9.4 million tons.<\/p>\n
Rahardi said he was confident that the cooking oil price would
\nstabilize soon as the government will continue distributing
\nadequate supplies to local markets.<\/p>\n
\"The selling price is expected to be about Rp 4,000 per kg,\"
\nhe noted. (prb)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-books-trade-surplus-of-us197-billion-in-march-1447893297",
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