Wednesday 20 May 2009

Jakarta Still the Biggest Contributor of Non Oil-Gas Foreign Reserves

The global economic crisis had eroded the national non oil-gas export performance. Evidently through Quarter I of 2009, the total national non oil-gas export showed a significant downturn the decline was triggered by among others decline of consumers demand in traditional export destinations like America and Japan which recently showed weakening of purchasing power.
The Central Board of Statistics [BPS] reported that the national non oil-gas exports by March 2009 was posted at USD 8.54 billion or up by 20.64% against February 2009 which was USD 6.78 billion. However, the accumulative figure through January-March 2009 showed a downturn of 32.13% compared to same period the year before, i.e. from USD 43.13 billion to only USD 25.69 billion. In 2008 the non-oil exports was USD 136.76 billion or up by 19.86% compared to 2007 i.e. USD 109.60 billion.
BPS Statistic Board also reported that through 2008 Jakarta was still the biggest contributor of foreign reserves at USD 43.64 billion or 31.91% of total non-oil exports Jakarta’s export value in 2008 was up buy 13.91% compared to 2007 which was 37.57 billion. The next 5 biggest contributor of export after Jakarta were Riau USD 20.50 [14.99%], East Java USD 14.62 billion, North Sumatra USD 12.17 billion [8.90%] and East Kalimantan USD 8.64 billion [6.32%].
Meanwhile, through 2008 Japan was the main destination country of non oil-gas export at the total value of USD 13.80 billion [10.09%], followed by the USA UAD 12.53 billion [9.16%] Singapore USD 10.10 billion [7.39%], China USD 7.79 billion [5.70%] and India USD 7.06 billion [5.16%]. In the past few years, India’s economy was growing at high speed, hence being in the big five position as importer of made in Indonesia products, side-pushing Malaysia which now was in the 6th position importing at the value of USD 5.98 billion.

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