The Trade Minister Calls All Imports Of The Use Of Significant Goods

Minister of Trade Budi Santoso (Photo: Antara)

Minister of Trade (Mendag) Budi Santoso said that all imports of the use of goods increased significantly in October 2024.

"Imports of raw/auxiliary materials rose the highest by 18.49 percent, followed by capital goods which recorded an increase of 12.55 percent, and consumer goods 10.02 percent on a monthly basis," Budi said quoting Antara.

The imported raw/auxiliary materials increased significantly, including wheat, iron ore, condensates, fertilizers, and anthractic coal.

Then, rising imports of capital goods are signal generators; buses, minibuses, and motorcoach; gas compression module; Cold Rolling Mills (CRM) engine; and remote control radio apparatus.

Then, the imports of consumer goods that also rose were potatoes as raw material for chips, military weapons, van cars, instant coffee, and electric cars.

In the January-October 2024 period, Indonesia's total imports were recorded at 192.81 billion US dollars, an increase of 5.25 percent compared to the same period last year. This increase was mainly driven by an increase in non-oil and gas imports by 5.30 percent and 4.97 percent on an annual basis.

Meanwhile, Indonesia's import value in October 2024 was recorded at US$21.94 billion, an increase of 16.54 percent compared to September 2024 on a monthly basis.

On an annual basis, this value rose 17.49 percent compared to October 2023. The increase in imports in October 2024 was driven by an increase in non-oil and gas imports by 12.13 percent and the oil and gas sector by 44.98 percent on a monthly basis.

Budi noted, judging from its commodities, several non-oil and gas import products with the highest monthly increase in October 2024, among others, 55.25 percent of sugar sugar and fireworks; precious metals, 51.52 percent of jewelry/eye jewelry; 49.60 percent of the food industry grounds/remains; 40.69 percentcerts; and 35.28 percent of fertilizers.

In contrast, non-oil and gas products with the deepest decline in imports include seeds and fruit containing oil dropping by 18.67 percent, knitted fabrics dropping 6.21 percent, aluminum and goods down 5.63 percent, pulp from wood down 5.61 percent, and machinery and mechanical equipment down 2.09 percent.

Based on the country of origin, Indonesia's non-oil and gas imports are dominated by China, Japan, and Singapore with a value of 9.02 billion US dollars and a share of 49.37 percent of Indonesia's non-oil and gas imports in October 2024.

Meanwhile, the country of origin for non-oil and gas imports with the largest increase in import value in October 2024 was New Zealand by 248.82 percent, followed by Myanmar 215.46 percent, Russia 89.06 percent, Ukraine 85.61 percent, and the United Arab Emirates 70.35 percent.