The Central Statistics Agency noted that the trade balance in May 2021 was a surplus of US$. 2.36 billion, higher than the previous month's surplus of US$ 2.19 billion and May 2021 of US$ 2.09 billion. During this year or January-May 2021, the trade balance surplus reached US$ 10.17 billion.
The trade balance surplus last month occurred even though the performance of exports and imports fell as the momentum of Ramadan and Eid ended. Head of BPS Suhariyanto explained that last month's exports were recorded at US$ 16.6 billion. down 10.25% compared to last month although still up 59.76% compared to the same period last year. Imports also fell 12.16% compared to last month to US$ 14.23 billion, although on an annual basis it still grew 66.68%.
"Indonesia's trade balance has a surplus of US$ 2.36 billion, the highest in 2021," said Suhariyanto at the Import Export Performance Press Conference, Tuesday (15/6).
Suhariyanto explained that oil and gas exports fell 2.68%, while non-oil and gas decreased 10.67% compared to last month but rose 66.9% and 58.4% compared to May 2020. In fact, almost all oil and gas and non-oil and gas commodity prices rose last month compared to previous month. Crude oil prices rose 5.7%, coal rose 16.07%, palm oil rose 7.9%, and copper rose 8.98%.
"If we look at historically, nominal exports and imports have always decreased after Ramadan and Eid because the previous month rose drastically. However, compared to May 2019, last month's performance was very good," he said.
By sector, the increase in exports still occurred in the agricultural sector reaching 30.06% compared to April 2021. This was mainly driven by exports of aromatic medicinal plants and spices, coffee, bird's nest, cloves, and fruits.
Exports of additional and other sectors also rose 14.29% compared to the previous month due to higher coal and iron ore prices. Meanwhile, exports of the processing industry, which is one of the biggest contributors, fell 14.02 percent to US$ 12.83 billion
"Based on hs 27, the increase mainly occurred in mineral fuel exports, both in terms of volume and price. The increase in exports was mainly for shipments to China, India and the Philippines," he said.
Meanwhile, related to import performance, according to Suhariyanto, the decline mainly occurred in the non-oil and gas sector reaching 14.16%, while oil and gas imports still rose slightly by 1.9%. However, the performance of non-oil and gas imports still rose 56.44% and oil and gas jumped 213.61% compared to May 2020.
Based on the pattern of use, imports of capital goods fell by a maximum of 14.09% in May 2021 compared to April 2021 but increased by 35.38% compared to May 2020 to US4 1.89 billion. Imports of consumption fell 13.77% compared to April 2021 but rose 50.34 percent over the same period last year to US$1.4 billion. Meanwhile, imports of auxiliary raw materials decreased by 11.6% compared to April 2021 but increased by 79.11 compared to May 2020 to US$ 10.94 billion.
Cumulatively from January to May 2021, exports reached US$ 83.99 billion, up 30.58%, up from US$ 64.32 billion in the same period last year. Meanwhile, cumulative imports only rose 22.74 percent to US$ 73.82 billion.
"The cumulative trade balance surplus reached US$ 10.17 billion, much higher than the surplus in the same period last year of US$ 4.18 billion," he said.
