JAKARTA. The trade balance records surplus, as exports show a trend of increase. Data from Central Statistic Agency (BPS) show a worth of US$ 837.8 million surplus in November 2016. The surplus was supported by the exports, which grew by 5.91% to US$ 13.5 billion since October 2016.
The export growth was supported by 6.04% increase in non-oil and gas exports since October 2016, while oil and natural gas exports only grew by 4.47%.
During the same period, the imports of oil and gas grew by 13.89%, while the imports of non-oil and gas grew by only 9.39%.
The trade surplus in the period was lower than in October 2016. This was driven by the seasonal factor, of which ahead of the end of year the import growth is usually lower than export growth.
According to Deputy Distribution and Service Statistics Sasmito Hadi Wibowo, the global oil price affected to oil and gas imports. However, the global price did not affect to oil and gas exports, in which the volume is small.
Sasmito estimates that the trend of non-oil and gas exports will continue until December 2016, and will become a trend in 2017. “This is not only a trend of goods exports, but also service exports,” Sasmito said, Thursday (15/12).
Sasmito added, the government incentives will bring significant impacts to non-oil and gas exports. However, BPS estimates that in a short time period, the exports will be growing in a moderate manner.
Out of ten commodities of non-oil and gas exports, animal fats and oils recorded highest export value as much as US$ 2,163 billion, followed by mineral fuels with a value of US$ 1,552 billion.
Exchange rate depreciation
Aside of the prices of commodities, BPS also considers the factor of foreign exchange rate. The incerase in The Fed Funds rate is predicted to depreciate rupiah exchange rate against the US dollar.
At a certain level, the depreciation will make Indonesia’s exports become more competitive.
Minister of Finance Sri Mulyani said, the prices of commodities will affect to export performnace in 2017. In this case, the export performance will be better in 2017. “In this quarter, the exports have been flat and no longer negative. Some economic activities in mining sector have grown positively,” Sri Mulyani said. (Muhammad Farid/Translator)
Editor: Sanny Cicilia
Editor: Sanny Cicilia