Mon, 18 Oct 2010

Medan, North Sumatra (ANTARA News) - India has been the biggest contributor to North Sumatra`s foreign exchange earnings which in August this year totaled US$5.553 billion.

"From January to August, India`s contribution to North Sumatra`s foreign exchange earnings has reeched 15.75 percent worth US$874.606 million," head of the North Sumatra office of the Central Bureau of Statistics, Alimuddin Sidabalok, said here on Saturday.

Japan meanwhile follows the second contributing up to 11.54 percent and China next with its contribution reaching 9.24 percent.

The value of North Sumatra exports to India kept rising from year to year driven by the increasing volume and kinds of exports from palmoil to cooking oil and areca nut.

"The value of exports until August this year grew 31.51 percent from the same period last year, recorded at US$874.606 million," he said.

In August North Sumatra`s exports to India rose sharply by 80.61 percent from July, reaching US$253.676 million.

The secretary of the North Sumatra chapter of the Association of Indonesian Businessmen, Laksamana Adiyaksa, said the businessmen were now focusing their exports to developing countries such as India and African countries.

Those countries like India need various products such as palmoil as industrial raw materials. "Indonesia`s CPO exports mostly go to India," he said.

Besides CPO the province also exports areca nuts, food products, beverages and cigarettes to India.

He admitted that most of the province`s exports go to Asian countries reaching 42.01 percent of the province`s total foreign exchange earnings which reached US$5.553 billion.(*)