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Berita Hari Ini Import
In line with our forecast, Indonesian exports to overseas markets declined mildly in July 2022 (compared to the previous month). However, unlike last month’s forecast, imports into Indonesia expanded mildly over the same period.
As expected, Indonesia’s trade performance rebounded strongly in June 2022. This was certainly not a surprise considering the country’s exports had been held back significantly in May 2022 because of the government’s palm oil export ban that was imposed between 28 April 2022 and 23 May 2022 (in an effort to stabilize domestic cooking oil prices).
As expected, Indonesia’s export performance was heavily disrupted by the palm oil export ban (that was imposed by the Indonesian government between 28 April and 23 May 2022 to stabilize the domestic cooking oil prices). Compared to the previous month, exports of animal/vegetable fats and oils (which include palm oil products) tumbled by a whopping USD $2.1 billion in May 2022.
Last month when we discussed the impressive December 2021 trade performance of Indonesia (when its exports remained strong at near-record high territory, while imports soared to a record high), we ended our article with several ‘things’ to watch:
On 17 January 2022 Statistics Indonesia (BPS) released the latest trade data of Indonesia. The data show that Indonesian exports remained high (near record-high territory) in December 2021, while imports into Indonesia even managed to set a new all-time record (with a huge jump in imports of raw materials and consumer goods suggesting that economic activity is strong, although this could be a temporary phenomenon in the context of Christmas and New Year festivities).
Indonesia’s October 2021 export performance was impressive. Based on the latest data from Statistics Indonesia (Badan Pusat Statistik, BPS), Indonesia exported USD $22.03 billion worth of goods in October 2021, thereby setting a new all-time record high.
Indonesia’s August 2021 trade balance was quite spectacular with the value of the country’s exports totaling USD $21.42 billion, the highest export figure in ten years.
As expected, the trade balance of Indonesia showed a widening surplus in July 2021. According to the latest data that were released by Indonesia’s Statistical Agency (in Indonesian: Badan Pusat Statistik, or BPS), the country’s trade surplus reached USD $2.59 billion in July 2021, nearly doubling from the trade surplus one month earlier.
Before we delve into Indonesia’s June 2021 trade statistics, we first take a quick look at Indonesia’s full-year 2020 trade performance as Indonesia’s Statistical Agency (Badan Pusat Statistik, BPS) released its annual ‘Indonesian Foreign Trade Statistics – 2020’ report in the first week of July 2021.
While Indonesia Investments predicted the decline in imports into Indonesia in May 2021 – after Ramadan and Idul Fitri momentum had passed – we were surprised to see a significant drop in the country’s exports that same month.
Artikel Terbaru Import
The trade balance of Indonesia improved in 2014. Over the whole year of 2014 Indonesia posted a USD $1.88 billion trade deficit, significantly better than the USD $4.08 billion deficit it recorded a year earlier. Today (02/02), Statistics Indonesia announced that Indonesia posted a USD $0.19 billion trade surplus in the last month of the year after having recorded a USD $0.42 billion trade deficit in the preceding month. The improved performance is mainly due to the country’s growing non-oil & gas surplus and narrowing oil & gas deficit.
An Import Identification Number (API) is required in case a company wishes to import goods into Indonesian territory. Without such number a company is not allowed to perform any import activities. Minister of Trade Regulation number 27/M-DAG/PER/5/2012 regarding Provisions on Importer Identification Number (API) as amended by Minister of Trade Regulation number 59/M-DAG/PER/9/2012 (Trade Regulation) regulates the types of API based on the intended use for the product imported.
Indonesia’s inflation pace accelerated in December 2014, exceeding estimations of analysts and Indonesia’s central bank. December inflation, 2.46 percent (m/m) or 8.36 percent (y/y), accelerated due to the impact of higher subsidized fuel prices (introduced in November) and volatile food prices (fluctuating rice and chili prices at the year-end). Other factors that contributed to high inflation in 2014 were higher electricity tariffs for households and industries, the higher price of 12 kg LPG, and an airfare adjustment.
Indonesia’s inflation reached 2.46 percent month-to-month (m/m) in December 2014 due to the impact of higher subsidized fuel prices implemented on 18 November 2014. On a year-on-year (y/y) basis, Indonesia’s inflation was recorded at 8.36 percent, slightly lower than the result in 2013 (8.38 percent). Inflation has been high in 2013 and 2014 as the Indonesian government raised prices of subsidized fuels in both years in an attempt to relieve fiscal pressures brought about by costly oil imports.
After having recorded a trade deficit for several months, Indonesia finally posted a USD $20 million trade surplus in October 2014, according to data from the country’s Central Statistics Agency (BPS) released on Monday (01/12). Exports in October amounted to USD $15.35 billion, while imports were recorded at USD $15.33 billion. The improvement in Indonesia’s trade balance was mainly on the back of growth in the country’s non-oil & gas sector exports. This sector saw a surplus of USD $1.13 billion (up from USD $760 million in September).
The current account deficit of Indonesia eased to USD $6.84 billion, or 3.07 percent of the country’s gross domestic product (GDP) in the third quarter of 2014 (down from USD $8.69 billion, or 4.07 percent of GDP in the previous quarter). This improvement was mainly supported by a solid surplus in the country’s non-oil & gas sector, partly the result of the US economic recovery as well as resumed copper concentrate exports by Freeport Indonesia and Newmont Nusa Tenggara (after successful mining contract renegotiations).
Bank Indonesia decided to hold the key interest rate (BI rate) at 7.50 percent in October, with the Lending Facility and Deposit Facility rates kept at 7.50 percent and 5.75 percent, respectively. This level is expected to help control inflation at 4.5±1 percent in 2014 and 4.0±1 percent in 2015, as well as to reduce the current account deficit to a more sustainable level. Despite stable domestic conditions, Bank Indonesia sees risks: contagion risk stemming from US monetary tightening and possible higher subsidized fuel prices.
The central bank of Indonesia (Bank Indonesia) released a press statement on Wednesday evening (01/10) in which it set out its view on the country’s trade balance and inflation after the latest economic data had been released by Statistics Indonesia (abbreviated BPS) earlier on the day. Based on information of BPS, Indonesia’s September inflation was relatively low at 0.27 percent month-to-month (m/m), while the August trade balance swung back into a deficit at USD $318.1 million.
Governor of the central bank of Indonesia (Bank Indonesia), Agus Martowardojo, commented on Indonesia’s troubled current account balance on Tuesday (12/08). Martowardojo said that he expects the balance to improve in 2014. Last year, the current account deficit of Southeast Asia’s largest economy reached 3.3 percent of gross domestic product (GDP); a level which is generally regarded as unsustainable. This year, the deficit may ease to 3 percent of GDP. For investors the current account balance is an important matter. Why?
According to Statistics Indonesia (BPS), the country’s trade balance in June 2014 recorded a deficit of USD $0.30 billion after the USD $0.05 billion surplus in the previous month. The performance of Indonesia’s trade balance was influenced by shrinkage of the country’s non-oil & gas surplus amid a lower oil & gas deficit compared to May 2014. Meanwhile, inflation was up 0.93 percent (month-to-month) in July 2014; a good performance amid the Ramadan and Idul Fitri festivities. Annual inflation eased to 4.53 percent (year-on-year).
