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Indonesia's export rises in August on higher commodity prices

Source: XinhuaNet    Time:2017-09-18 09:41:22
Shipment of Indonesian products overseas increased in August amid rising price of global oil and other commodities.

National statistics bureau announced on Friday that Indonesia's export grew 19.24 percent to 15.21 billion U.S. dollars in August from a year ago.

Head of the bureau Kecuk Suhariyanto disclosed that the rising global oil prices followed by hike on price and demand of commodities had spurred increase of Indonesia's exported products of oil and gas, and horticultural and natural resources commodities.

"The hike of export was contributed by the hike in oil and gas, and non-oil and gas exportation," he told a press conference at the bureau headquarters.

On import, Indonesia witnessed a 8.99 percent growth to 13.49 billion U.S. dollars in August from a year earlier, said Suhariyanto.

That led the country's trade performance to swing to a 1.72 billion U.S. dollars surplus in August, the highest since 2012, after recording a 270 million U.S. dollars deficit in July, he added.

The surplus partly contributed to the hike on the central bank foreign exchange reserve to record high in August of 128.8 billion U.S. dollars, according to the lender.

The Southeast Asia's biggest economy is the world's largest exporter and producer of crude palm oil and thermal coal.

The nation is also the world's third biggest exporter of rubber and cocoa, as well as home to the world's second-biggest copper mine.

In 2016, the value of Indonesia's export reached 144.43 billion U.S. dollars with 135.65 billion U.S. dollars import, according to the bureau. 

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