Trade surplus plunges<\/p>\n
JAKARTA (JP): Indonesia's trade surplus fell by 41 percent to
\nUS$4.75 billion in 1995 from $8.07 billion in the previous year
\ndespite a strong rebound last December, Minister of Information
\nHarmoko announced here yesterday.<\/p>\n
Speaking after a monthly cabinet meeting on the economy,
\nHarmoko said total exports grew by 13.4 percent to $45.42 billion
\nlast year from $40.05 billion in 1994, while imports soared by 27
\npercent to $40.66 billion from $30.98 billion.<\/p>\n
Oil and gas exports rose slightly to $10.47 billion last year
\nfrom $9.69 billion in the previous year.<\/p>\n
Harmoko said that President Soeharto, who chaired yesterday's
\ncabinet meeting, had instructed ministers to help spur exports
\nand curb imports.<\/p>\n
\"The President has ordered a reduction in imports, and if
\nnecessary limitations can be introduced,\" Harmoko told a news
\nconference after the meeting.<\/p>\n
He also explained that Indonesia enjoyed a trade surplus of
\n$1.01 billion for the month of December, up from $633.8 million
\nin November and $522.3 million in October.<\/p>\n
Exports in December stood at $4.52 billion, while imports
\ntotaled $3.51 billion, he said.<\/p>\n
\"The December surplus is the highest monthly trade surplus in
\nthree years. It is expected to motivate efforts to boost exports
\nand the trade surplus,\" he noted.<\/p>\n
He went on to note that textiles, plywood, electronic goods
\nand rubber products still dominated the country's non-oil exports
\nlast year.<\/p>\n
Speaking on inflation, Harmoko said Indonesia's monthly
\ninflation rate was recorded at 1.7 percent in February, compared
\nwith 2.16 percent in the previous month and 1.31 percent in
\nFebruary of last year.<\/p>\n
February food prices were up 4 percent from January, while
\nclothing and housing prices rose by 1.1 percent and 0.5 percent
\nrespectively. The prices of other goods and services rose by 0.1
\npercent, he said.<\/p>\n
He said that Soeharto had instructed the National Logistics
\nAgency (Bulog) to flood the market with the needed commodities so
\nthat the inflation rate for the current fiscal year, ending this
\nmonth, would not exceed 10 percent.<\/p>\n
On a fiscal year basis, the inflation rate as of last month
\nreached 9.47 percent. The inflation rate for last fiscal year was
\nrecorded at 8.57 percent.<\/p>\n
\"The reasons for such high inflation -- Chinese New Year and
\nIdul Fitri -- are now over. Market operations by the agency needs
\nto be continued to reach a balance between supply and demand,\"
\nHarmoko said.<\/p>\n
The minister also announced that the government raised the
\nprice of fertilizers, both in the forms of tablets and granular,
\nto Rp 330 (14 U.S. cents) a kilo, effective yesterday, from the
\nprevious prices of Rp 295 for tablet fertilizer and Rp 260 for
\ngranular.<\/p>\n
He also disclosed that 27 sugar plants in Java are currently
\nrunning inefficiently and one of them had even stopped operation.<\/p>\n
Indonesia, one of the world's largest sugar producers, is a
\nnet importer of sugar. The importation of sugar is controlled by
\nBulog.<\/p>\n
Harmoko explained that the government still keeps a monopoly
\non sugar \"to protect sugarcane farmers and to reduce the burden
\non consumers.\"<\/p>\n
He said Soeharto had suggested that more sugar mills be built
\noutside Java to compensate for the 27 inefficient sugar plants in
\nJava.<\/p>\n
Soeharto also suggested that the private sector be involved in
\nthe development of the sugar industry to meet the increasing
\ndomestic need for sugar. (rid)<\/p>\n
Editorial -- Page 4<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/trade-surplus-plunges-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }