The Central Statistics Agency noted that the trade balance in June 2021 was a surplus of US $ 1.32 billion. The total trade balance surplus in the first half of this year reached US$ 11.86 billion. Head of BPS Maryo Yuwono explained that export performance was still increasing in June 2021 reaching 9.52% compared to the previous month and rising 54.46% compared to June 2020 to US $ 18.55 billion. Meanwhile, imports jumped 21.03% compared to May or 239.38% compared to June 2020 to US $ 17.23 billion."The trade balance in June was a surplus of US$ 1.32 billion. As seen from the graph, the trade balance has been in surplus for 14 consecutive months since May 2020. This is encouraging news," Margo said in a press conference, Thursday (15/7).
Margo explained, oil and gas exports shot up 27.23% compared to May or 117.15% compared to June 2020 to US $ 1.23 billion. Non-oil and gas exports also rose 8.45 percent compared to May or 51.35% compared to June 2020 to US$ 17.31 billion. The increase in exports was mainly driven by the ongoing increase in a number of commodity prices. Indonesian crude oil prices or ICP rose 7.42% m/m or 91.47% y/o, coal prices jumped 21.42% m/m or 148.94% y/o, nickel rose 2.29% m/m or 21, 27%, YoY, and tin was up 0.79% MoM or 93.3% YoY.
The increase in exports in June compared to the previous month occurred in all sectors. The highest increase occurred in exports of the agricultural sector reaching 33%, followed by oil and gas 27.23%, mining 11.75%, and manufacturing industry 7.34%. Meanwhile, compared to June 2020, the highest increase in exports occurred in the oil and gas sector reaching 117.15%, followed by mining 92.8%, processing industry 45.92%, and agriculture 33.04%. Based on the destination, the highest export increase occurred for China reaching US$ 625.2 million, the United States US$ 374.5 million, and Japan US$ 252.9 million. "We see that exports during 2021 are very promising," said Margo. BPS noted that total exports during the first half of this year reached US$ 102.87 billion, up 34.78% compared to the same period last year. Non-oil and gas exports rose 34.6 percent to US$ 97.06 billion, while oil and gas exports rose 48.54 percent to US$ 5.82 billion.
Meanwhile, the surge in imports in June, according to Margo, was mainly supported by non-oil and gas imports which shot up 22.06% compared to May or 48.8% compared to June 2020 to US$ 14.93 billion. Meanwhile, oil and gas imports rose 11.44% or 239.38 percent to US$ 2.3 billion. The increase in imports based on their use mainly occurred in capital goods which reached 35.03% compared to May or 43.42% compared to June 2020 to US$ 2.55 billion. Imports of raw materials also rose 19.15% compared to May or 72.09% compared to June 2020 to US$ 13.04 billion. Likewise, imports of consumer goods rose 16.92 percent compared to May or 16.72 percent compared to June 2020 to reach US$ 1.64 billion. The largest increase in imports came from China which reached US$ 758 million, Japan US$ 365.5 million, and Thailand US$ 288.1 million.
BPS recorded that total imports in January-June reached US$ 91.1 billion, up 28 percent compared to the same period last year. Imports were dominated by goods reaching US$ 79.49 billion, up 25.44% over the same period last year. "The cumulative trade balance from January to June 2021 was a surplus of US$ 11.86 billion. We hope this will be good news for the economy," said Margo.
