Reading balance of trade with vigilance

January 17, 2017, 01.27 PM  | Reporter: Adinda Ade Mustami, Ghina Ghaliya Quddus
Reading balance of trade with vigilance


JAKARTA. The balance of trade recorded a surplus, while the value rises than in previous year.

According to the Central Statistics Agency (BPS), the surplus in balance of trade has increased from US$ 7.67 billion in 2015 to US$ 8.78 billion in 2016.

BPS’ data show that the value of exports in 2016 reached US $ 144.43 billion, down by 3.93% than the previous year. For comparison, the value of exports in 2015 fell by 14.62% compared with 2014.

On the other hand, imports fell deeper by 4.94% to US $ 135.65 billion compared with the import value of the previous year.

But there is also a worrying signal. For example, imports of consumer goods rose by 13.54% compared with the same period in 2015, while imports of raw materials and capital goods fell by 5.73% and 9.64%, respectively.

In other words, expansion and investment industry tended to slowdown, on the grounds that businessmen preferred to import finished goods rather than raising the domestic production capacities.

“Imports of capital goods impacted to the investment to gross domestic product (GDP), imports of consumer goods to the consumption, and imports of raw materials to generate processing industry," said Head of BPS Suhariyanto, Monday (16/1).

Coordinating Minister of Economic Affairs Darmin Nasution assessed that global economy began to improve. Therefore, Governor of BI (the Central Bank) Agus Martowardojo is optimistic that this year the domestic economy and exports will improve along with the global economic recovery. (Muhammad Farid/Translator)

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