Exports Drop Due to Falling Commodity Prices: Minister
Jakarta. Indonesia’s exports fell by 6 percent in the first five months of the year when compared to the same period last year more because of a decline in commodity prices, Trade Minister Zulkifli Hasan said on Saturday.
The country’s exports were valued at $108 billion cumulatively from January-May, while imports stood at $91.58 billion.
“The decline in exports is attributable to the falling prices of certain commodities at the global market, as the volume of Indonesia’s exports in the January-May period actually rose by 17.68 percent,” the minister said in a statement.
He didn’t elaborate on which commodities suffered from lower prices.
Zulkifli said exports to all regions in Asia have been on the rise, especially in western Asia where Indonesia’s exports jumped by nearly 75 percent.
“It proves that Asia remains an important market for Indonesian goods,” Zulkifli said.
The value of Indonesia’s exports also more than doubled in northern and eastern Europe, he added.
Indonesia managed to extend the record of the longest trade surplus run in May when the country saw a positive trade balance for the 37th month in a row.
But the May surplus is getting narrower with exports standing at $21.72 billion against $21.28 billion in imports.Tags: