BPS says exports up in 10% in seven months
BPS says exports up in 10% in seven months
Dadan Wijaksana, The Jakarta Post, Jakarta
The Central Statistics Agency (BPS) reported on Monday a rise of
almost 10 percent in exports for the first seven months of the
year as compared to the same period last year.
BPS said July exports stood at US$5.25 billion, bringing total
figures from January to July to $35.7 billion, a 9.8 percent
increase from $32.6 billion posted in 2002 of the same period.
"Of the total export revenue in July, $4.25 billion came from
non-oil and gas exports, which experienced a 0.7 percent rise
from the June figures," BPS chairperson Sudarti Soerbakti
told a press briefing.
"This means that as of July, export performance has been
encouraging, which is good for the economy," Sudarti said, adding
that in July last year, Indonesia suffered a decline in both oil
and gas as well as non-oil and gas exports.
The encouraging figures should provide further evidence that
the country's export performance has started to recover after
struggling for several years due to the global economic slowdown
and a number of problems at home, including labor conflicts,
security problems, inefficiency, and lack of financing.
The government has targeted the full-year exports at around
$60 billion this year.
BPS also said that the trade surplus declined to $2.71 billion
in July from $2.85 billion in the previous month, due in part to
a pick-up in imports.
Imports rose to $2.53 billion in July from $2.42 billion
booked the month earlier, with non-oil and gas imports rising to
$1.96 billion from $1.91 billion in the same period.
Net exports contribute around 10 percent of the country's
gross domestic product (GDP), with domestic consumption and
investment being the other main contributors.
Despite a relatively low percentage in GDP, a strong
performance in exports -- especially non-oil and gas exports --
is of great importance, as it reflects both robust economic
activities at home and a healthy demand from overseas.
BPS data shows that Japan, the U.S. and Singapore remain the
country's top three export destinations, accounting for around 40
percent of the country's total exports.
In July, Indonesia's exports to the three countries stood at
$593.9 million, $657.2 million and $456.3 million, respectively.
The U.S. became the country's largest export destination in
the first seven months of the year, accounting for $4.2 billion
or 15.3 percent of Indonesia's exports during the period. It was
followed by Japan which accounts for $3.9 billion or 14 percent
of Indonesia's total exports.
RI's export performance
--------------------------------------------------------------
June July January-July January-July
(2003) (2003) (2002) (2003)
--------------------------------------------------------------
Oil & gas $1.06b $0.99b $ 6.61b $ 7.94b
Non oil & gas $4.22b $4.26b $25.85b $27.71b
---------------------------------------------------------------
Total exports $5.28b $5.25b $32.46b $35.65b
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Source: BPS