BPS(Indonesian Central Bureau of Statistic) has published the Data of Indonesia’s exports and imports in 2021. Below, we will brief them one by one.
Table of Contents
Export and Import Indonesia in July 2021
In July 2021, the value of Indonesia’s exports and imports decreased compared to June 2021. For exports, the value decreased by 4.5% or US$18.5 billion. For imports, the value decreased by 12.2% to US$15.1 billion.
According to BPS, this is due to the end of Eid al-Fitr in Indonesia. Every year, Indonesia’s imports and exports increase drastically 2 months before and after Eid al-Fitr. However, after that, they decrease drastically.
Nevertheless, the percentage of Indonesia’s imports and exports has increased year-on-year. BPS notes that the value of Indonesian exports increased by 29.32% compared to July 2020. At the same time, the percentage of imports increased by 40.32%.
Export in Indonesia in July 2021
As mentioned earlier, there was a decrease in the value compared to the previous month. This decrease in value is due to exports of iron and steel, which decreased by US$ 409.5 million (20.56%).
The opposite is true for animal fats and vegetable oils. For these goods, BPS recorded an increase of US$614.0 million (32.42 percent).
Indonesia's Export Destination Countries in July 2021
In fact, the top export destinations for Indonesia in July 2021 are:
1. China (US$ 3.57 billion),
2. United States (US$ 2.02 billion),
3. Japan (US$ 1.19 billion),
4. ASEAN Countries (US$ 3,18 billion),
5. EU / European Union (US$ 1,55 billion)
Import in Indonesia in July 2021
The decrease in the value of Indonesian imports is due to a decrease in certain commodities. These commodities are machinery and mechanical equipment worth US$422.3 million.
Meanwhile, pharmaceutical products recorded an increase of US$185.9 in imports.
Indonesia's Import Destination Countries in July 2021
Furthermore, the top import destinations for Indonesia cumulatively from January to July 2021 are:
1. China (US$ 329,71 billion),
2. Japan (US$ 7,69 billion),
3. South Korea (US$ 5,08 billion),
4. ASEAN countries (US$ 16,63 billion),
5. European Union / EU (US$5,81 billion).
Conclusion
Despite the decrease in the Month-to Month (MoM), the overall result is still relatively stable. Indonesia’s trade balance showed a surplus of US$2.59 billion in July 2021.
The stability comes mainly from the non-oil and gas sector of US$3.38 billion. In contrast, there was a deficit of US$0.79 billion in the oil and gas sector.
