BPS cites 6.94-percent drop in Indonesia’s exports in 2019

Jakarta (ANTARA) - Indonesia's exports recorded a 6.94-percent plunge to US$167.53 billion last year, from $190.01 billion a year earlier, according to the Central Statistics Agency (BPS).

"The 2019 exports dropped to the tune of 6.94 percent. The decrease is quite significant," BPS Chief Suhariyanto stated here on Wednesday.

He remarked that the exports of several commodities dropped last year, including that of oil and gas, plummeting 27 percent; industrial goods falling 2.7 percent; and mining and other products tumbling 15 percent.

"Only the exports of farm commodities rose by 5.3 percent this year than that of 2018," he pointed out.

The BPS chief attributed the declining exports to the global economic slowdown and unfavorable trade situation, leading to low demand from export destination countries.

"The global economy, especially in the United States, China, and Japan, slowed down, and that demand fell accordingly," he noted.

In addition, the fluctuation in oil prices in the global market also had an impact on the country's export performance throughout last year, he stated.

The main markets for Indonesia's exports last year included China, the United States, India, Singapore, and Malaysia.

"We hope that exports would increase in future, so our trade balance would improve," he pointed out.

Source: Antara News

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