ASEAN KEY DESTINATIONS
Indonesia's exports grow, but still not out of woods
Indonesia's exports to Japan and China, the country’s traditional main markets, recorded positive growth in February from the month before, but accumulatively still recorded a decline year-to-date for the first two months of the year.
According to Central Statistics Agency (BPS) data, exports to Japan rose by 5.3 percent to US$1.11 billion last month from $1.05 billion in January, while exports to China increased 6.6 percent to $945 million from $886 million in January.
"Exports to Japan and China have shown an improvement, an increase on a monthly basis," BPS head Suryamin said at a press conference in Jakarta on Tuesday.
However, accumulative export figures from the first two months of 2016 showed that Indonesia’s trade performance was still weak compared with the same period of 2015. Exports to Japan in January-February, at $2.16 billion, marked a 5.4 percent decrease from the same month last year, while exports to China at $1.83 billion recorded a 9.65 percent decline.
Japan is Indonesia's second-biggest export destination, with an 11 percent market share, followed by China at 9.37 percent. The United States, Indonesia's biggest export market, has a 12.15 share.
The agency’s data showed that exports to the US in February dropped 6.8 percent month-on-month to $1.15 billion from $1.23 billion. Accumulatively, January-February exports to the US were down too, by 3 percent to $2.38 billion compared with last year’s $2.45 billion.
In total, non-oil and gas exports in February were worth $10.19 billion, an increase of 8.67 percent from $9.37 billion in January. Nevertheless, on a year-to-date basis, January-February exports were down 9.89 percent to $19.56 billion from last year's $21.7 billion.
Indonesia exports to the US, Japan and China were mainly textile and textile products, electronics, rubber and rubber derivatives, palm oil, forest products, footwear, automotive products, shrimps, cocoa and coffee. Seventeen of Indonesia’s total 24 commodities experienced an increase in February, Suryamin said.
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