Indonesia container volumes drop, but show signs of recovery
JAKARTA, May 27 (Reuters) - Indonesia's container volumes for exports for January-May fell an estimated 10-12 percent from a year ago, while imports dropped 30 percent, an official said on Wednesday, as the economy shows signs of a turnaround.
Earlier this year government officials had warned of a sharp drop in exports of as much as 30 percent.
But Richard Lino -- president director of PT Pelindo II, which runs ports including Tanjung Priok, the country's biggest -- said container volumes for exports were down around 10-12 percent for the period January to late May from a year ago.
'Container flows at Tanjung Priok port have increased compared to the early months of this year. It shows that the economy has started to improve,' he said.
Exports reached $8.54 billion in March, down 28.9 percent from a year ago, but Southeast Asia's biggest economy still showed a $2.01 billion trade surplus.
The current account surplus was an estimated $1.79 billion in the first quarter, compared to a deficit of $677 million in the fourth quarter of 2008, central bank data showed. Some analysts had estimated Indonesia would show a deficit in its current account this year, which put pressure on the rupiah . However, the currency is still up 6.6 percent against the dollar so far this year.
Trade Minister Mari Pangestu said the current slowdown in economic activity provides a good opportunity for port operators to improve their facilities, systems and resources in readiness for a rebound in the global economy.
'We predict the world economy will improve in 2010. That means we need to be ready for expanding export and import activities by improving infrastructure, such as ports,' she said.
Pangestu had earlier said export volumes may decline as much as 30 percent this year. Indonesia has managed to avoid a recession as exports account for around 30 percent of the economy, which makes it less dependent on exports than other Asian countries.
Earlier this year government officials had warned of a sharp drop in exports of as much as 30 percent.
But Richard Lino -- president director of PT Pelindo II, which runs ports including Tanjung Priok, the country's biggest -- said container volumes for exports were down around 10-12 percent for the period January to late May from a year ago.
'Container flows at Tanjung Priok port have increased compared to the early months of this year. It shows that the economy has started to improve,' he said.
Exports reached $8.54 billion in March, down 28.9 percent from a year ago, but Southeast Asia's biggest economy still showed a $2.01 billion trade surplus.
The current account surplus was an estimated $1.79 billion in the first quarter, compared to a deficit of $677 million in the fourth quarter of 2008, central bank data showed. Some analysts had estimated Indonesia would show a deficit in its current account this year, which put pressure on the rupiah . However, the currency is still up 6.6 percent against the dollar so far this year.
Trade Minister Mari Pangestu said the current slowdown in economic activity provides a good opportunity for port operators to improve their facilities, systems and resources in readiness for a rebound in the global economy.
'We predict the world economy will improve in 2010. That means we need to be ready for expanding export and import activities by improving infrastructure, such as ports,' she said.
Pangestu had earlier said export volumes may decline as much as 30 percent this year. Indonesia has managed to avoid a recession as exports account for around 30 percent of the economy, which makes it less dependent on exports than other Asian countries.