Indonesia’s Export to China is Rising, The Import is falling

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Menteri Luar Negeri RI Retno LP Marsudi (kiri) dan Menteri Bea Cukai China Ni Yue Feng bertukar naskah protokol impor manggis dari Indonesia yang ditandatangani di Beijing, Kamis (25/4). Penandatanganan tersebut dilakukan di sela-sela KTT Kerja Sama Ekonomi Sabuk Jalan (BRF) II di Beijing pada 24-27 April 2019 yang juga dihadiri oleh Wakil Presiden Jusuf Kalla.
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NUSADAILY.COM – JAKARTA – The value of Indonesia’s exports to China during the January-August 2020 period increased by 6.4 percent compared to the January-August 2019 period, while the value of Indonesian imports from China actually decreased by 11.8 percent.

“That way, our trade deficit with China during that period also decreased,” said Indonesian Ambassador to China Djauhari Oratmangun to ANTARA, Wednesday.

Quoting data from the Chinese Customs Ministry (GAC), the Ambassador stated that the value of Indonesia’s trade with China in the January-August 2020 period reached US $ 48.7 billion (Rp.730.5 trillion).

Based on these data, the total value of Indonesia’s exports to China reached 23.3 billion US dollars (IDR 349.5 trillion). It grew by 6.4 percent compared to the value of total exports in the previous year in the same period.

Meanwhile, the value of Indonesia’s imports from China in that period reached US $ 25.4 billion (381 trillion). Decreased by 11.8 percent compared to the previous year in the same period.

China Ranks Second Largest Indonesian Investor
Indonesia still experienced a trade deficit with China in this period of US $ 2 billion (Rp.29.2 trillion).
However, the gap decreased by around 69.2 percent. When viewed from the deficit for the same period last year of 6.6 billion US dollars (Rp99 trillion).

“If this trend continues, then until the end of this year, the deficit will decrease a lot compared to last year,” said Djauhari.

Some of Indonesia’s superior and potential products in this period recorded a significant increase in export value. Among them were iron and steel which rose 134.3 percent, copper (88.5 percent), footwear (31.9 percent), paper and paperboard (118.7 percent). Fishery products (16.2 percent), rubber (25.8 percent), plastic (20.4 percent), tin (1,163.6 percent), and aluminum (4,124.1 percent).

For Chinese investment in Indonesia during the period January to July 2020, US $ 2.4 billion was realized, an increase of 9 percent. Compared to the same period in 2019.

China is still the second largest foreign investor in Indonesia. “This figure is added to the investment from Hong Kong worth 1.7 billion US dollars. So it can be said that China plus Hong Kong were the biggest investors in Indonesia in the first quarter, ”said Ambassador Djauhari. (int1)