OIL AND GAS EXPORT RISE IN Q1
The Jakarta Post, Jakarta
A recent rise in the value of oil and gas exports amid rising crude oil prices has helped boost Indonesia's already strong export performance for bituminous fuels and rubber by 12 percent during the first three months of the year as compared to the same period last year.
Indonesia's total exports from January to March 2006 reached US$22.3 billion, the Central Statistics Agency (BPS) reported Monday, compared to $15.5 billion during last year's first quarter.
The country's oil and gas exports up to the end of March surged by almost 19 percent to $5.1 billion, as international oil prices averaged around $62 per barrel. The price of oil has now increased further to $72 per barrel.
In March alone, exports of oil and gas increased by 4 percent to $1.7 billion from February, BPS director Choiril Maksum said, as Indonesian crude prices for the month rose to US$61.72 a barrel from $61.19 in February.
Combined with non-oil and gas exports during the month, which saw an incidental rise in exports of fisheries products, March's total exports rose to $7.4 billion, up 1.33 percent from February.
The country's non-oil and gas exports, accounting for more than three-quarters of the country's total exports, rose nearly 11 percent to $17.2 billion in the first quarter from last year's first quarter, with the main markets being the 25 nations of the European Union, the U.S. and Japan.
Of first quarter non-oil and gas exports, shipments of bituminous fuels, which include Indonesia's abundant coal resources, saw the biggest increase -- almost 53 percent -- to book a value of $1.32 billion as compared to $867 million in last year's first quarter.
Following bituminous fuels, exports of rubber and rubber products also enjoyed a significant increase of 21 percent to $1.25 billion. The prices of both coal and rubber have been gaining lately on the global market.
Exports of furniture, however, fell 6 percent to $516 million in the first quarter.
The BPS also reported that Indonesia imported a total of $13.23 billion worth of goods between January and March, down 2.54 percent from the same period the previous year, with most of the imports coming from Japan, China and the U.S.
A positive signal for the economy is that imports of capital goods rose 21 percent to $2.2 billion in the period, reflecting a revival in investment and the future production of local industry, although imports of raw materials declined 8 percent to $9.7 billion, which could signify still slowing consumption.
Overall, the country had a trade surplus of $9.12 billion in the first three months of 2006, a 44 percent jump from the $6.29 billion recorded in the same period last year.
The government expects Indonesia's total exports to continue growing by between 7 and 13 percent this year from last year's record high of $85.6 billion.
A recent rise in the value of oil and gas exports amid rising crude oil prices has helped boost Indonesia's already strong export performance for bituminous fuels and rubber by 12 percent during the first three months of the year as compared to the same period last year.
Indonesia's total exports from January to March 2006 reached US$22.3 billion, the Central Statistics Agency (BPS) reported Monday, compared to $15.5 billion during last year's first quarter.
The country's oil and gas exports up to the end of March surged by almost 19 percent to $5.1 billion, as international oil prices averaged around $62 per barrel. The price of oil has now increased further to $72 per barrel.
In March alone, exports of oil and gas increased by 4 percent to $1.7 billion from February, BPS director Choiril Maksum said, as Indonesian crude prices for the month rose to US$61.72 a barrel from $61.19 in February.
Combined with non-oil and gas exports during the month, which saw an incidental rise in exports of fisheries products, March's total exports rose to $7.4 billion, up 1.33 percent from February.
The country's non-oil and gas exports, accounting for more than three-quarters of the country's total exports, rose nearly 11 percent to $17.2 billion in the first quarter from last year's first quarter, with the main markets being the 25 nations of the European Union, the U.S. and Japan.
Of first quarter non-oil and gas exports, shipments of bituminous fuels, which include Indonesia's abundant coal resources, saw the biggest increase -- almost 53 percent -- to book a value of $1.32 billion as compared to $867 million in last year's first quarter.
Following bituminous fuels, exports of rubber and rubber products also enjoyed a significant increase of 21 percent to $1.25 billion. The prices of both coal and rubber have been gaining lately on the global market.
Exports of furniture, however, fell 6 percent to $516 million in the first quarter.
The BPS also reported that Indonesia imported a total of $13.23 billion worth of goods between January and March, down 2.54 percent from the same period the previous year, with most of the imports coming from Japan, China and the U.S.
A positive signal for the economy is that imports of capital goods rose 21 percent to $2.2 billion in the period, reflecting a revival in investment and the future production of local industry, although imports of raw materials declined 8 percent to $9.7 billion, which could signify still slowing consumption.
Overall, the country had a trade surplus of $9.12 billion in the first three months of 2006, a 44 percent jump from the $6.29 billion recorded in the same period last year.
The government expects Indonesia's total exports to continue growing by between 7 and 13 percent this year from last year's record high of $85.6 billion.
posted by Zumrowi Yunus at
2:12 AM
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