March 16, 2021 | Invest Indonesia

Imports See First Double-Digit Growth since June 2020

Source from: Antara News

Original News HERE

Indonesia’s imports rose by 14.86 percent year on year to reach US$13.26 billion in February, 2021 — recording their first double-digit growth since June, 2020, the Central Statistics Agency (BPS) reported.

Compared to the previous month, imports in February this year showed a decline of 0.49 percent, BPS chief Suhariyanto informed during an online press conference on Monday.

The drop was mainly caused by a 15.59-percent decline (month on month) in oil and gas imports, he explained adding that non-oil/non-gas imports grew by 1.54 percent for the same period.

In February, 2021, imports rose by 14.86 percent (year on year), with non-oil/non-gas imports rising 22.03 percent and oil and gas imports plummeting 25.37 percent, he said.

“Oil and gas imports, which declined, include crude oil imports, which tumbled 62.3 percent, and oil product imports, which declined 18.75 percent. However, gas imports still increased,” he added.

According to BPS data, the import of capital goods in February, 2021 rose 9.08 percent month on month and 17.68 percent year on year. The imports of machines and electrical appliances increased US$172.8 million, the agency reported.

“Taking into account the import structure in February, 2021 that 75 percent of the import comprised raw materials, the prospect for imports is promising because it indicates the movement of industries, which will eventually attract investment,” Suhariyanto said.

Reporter: Sella PG/Suharto
Editor: Fardah Assegaf, Ine