Indonesia’s exports in January 2020 was down both year on year (January 2019 to January 2020) and month to month (December 2019 to January 2020), according Central Bureau of Statistics BPS. Indonesia export value in January reached $13.41 billion, down 7.16% month to month from December 2019 and by 3.71% year on year compared to January 2019.
The decline in exports in January 2020 from December 2019 was attributed to oil and gas exports, down at 28.73 percent, from $1.13 billion to $805.9 million, as well as non-oil and gas exports that plunged 5.33 percent, from $13.3 billion to $12.6 billion.
The decline in oil and gas exports was caused by a 3.45-percent drop in oil exports to $168.9 million and crude oil exports plunging 83.29 percent to $32.9 million, as well as gas exports falling 20.41 percent to $604.1 million.
In the meantime, the value of Indonesian imports in January 2020 had reached $14.28 billion, down 1.60 percent as compared to December 2019. The figure fell 4.78 percent in comparison to January 2019.
This was caused by a decline in the value of oil and gas and non-oil and gas imports by $146.1 million, or 6.85 percent, and $85.5 million, or 0.69 percent respectively.
The drop in oil and gas imports was caused by a decline in the value of crude oil imports of $185.3 million, or 26.50 percent, and oil yields of $124.5 million, or 10.13 percent. The value of gas imports, however, rose $163.7 million, or 79.68 percent.
Trade balance in January 2020 was still in a deficit of US$864 million, with export value of $13.41 billion and imports of $14.28 billion.
“The trade balance deficit was triggered by the oil and gas sector that experienced a deficit of US$1.18 billion, although the non-oil and gas sector had registered a surplus of $0.32 billion,” BPS Head Suhariyanto said Monday.
The January 2020 deficit was lesser than the $1.06 billion recorded in January 2019.