World Trade Lesu, Customs Revenue Drops 15 Percent

Illustration (Photo: Doc. Ministry of Finance)

Minister of Finance (Menkeu) Sri Mulyani said that there was a decrease in Customs and Excise revenues by minus 15.6 percent year on year (yoy) in May 2023.

According to him, until last month the staff was only able to collect revenues of Rp118.4 trillion. This figure is much different from May 2022, which was collected at Rp140.3 trillion.

"This is due to the global environment which causes commodity prices to experience corrections. In addition, there are also several commodities that are prohibited from being exported," he said through a virtual channel on Monday, June 26.

The Minister of Finance detailed that two of the three main customs and excise items experienced a decline. The first is that exports of export duties that have collapsed 67.5 percent are influenced by the price of CPO which has been moderated, decreased export volume of minerals, and exports of copper that have not been levyed.

Then, the second item that dropped was excise revenue which contracted 12.7 percent due to reduced production of tobacco products from class I.

"Then the only thing that goes up is the import duty with a growth of 7.8 percent, driven by the strengthening of the US dollar exchange rate and the growth in revenue from imports of four-wheeled vehicles, spare parts, iron / coal, and mining machines," he said.

In total, state revenues until May 2023 amounted to Rp1,209.3 trillion. In addition to customs revenues, this state revenue was also supported by tax revenues of Rp830.3 trillion and non-tax state revenues (PNBP) of Rp260.5 trillion.