Indonesia’s import value in August 2022 rises, recorded at 22.15 bln USD

Indonesia's import value
Illustration. (CHUTTERSNAP on Unsplash)

Indonesia’s import value in August was recorded at 22.15 billion dollars, up 3.77 percent from the previous month (mom) and up 32.81 percent from August of the previous year (yoy).

 

Jakarta (Indonesia Window) – Indonesia’s import performance in August 2022 also increased. In August, Indonesia’s import value was recorded at 22.15 billion dollars, up 3.77 percent from the previous month (mom) and up 32.81 percent from August of the previous year (yoy).

“The rise in the total imports was triggered by an increase in non-oil and non-gas imports by 9.23 percent (mom), while oil and gas imports fell by 16.92 percent (mom),” Trade Minister Zulkifli Hasan.

Compared to July 2022, imports of all classes of goods used in August 2022 have increased. The highest imports were experienced by consumer goods whose value increased by 12.27 percent (mom), followed by capital goods by 18.14 percent (mom) and raw/auxiliary products by 0.35 percent (mom).

The increase in imports of capital goods and raw/auxiliary products in August was in line with positive sentiment in the manufacturing sector, he said.

He further said that Indonesia’s industry remains positive amid the ongoing economic recovery as reflected in the strengthening of the S&P Global Manufacturing Purchasing Managers’ Index (PMI) for Indonesia in August 2022 at 51.70.

Meanwhile, the increase in imports of consumer goods was driven by the increase in Indonesian consumer confidence to 124.7 from 123.2 in the previous month, Zulkifli said.

Several main non-oil and non-gas imports experienced the highest increase in August 2022 (mom), including machinery/mechanical equipment and parts, which rose 13.63 percent, electrical machinery and equipment and their parts (9.98 percent), mineral fuels (56.41 percent), cereals 47.16 (percent), and goods made of iron and steel (39.28 percent).

In August 2022, Indonesia’s non-oil and non-gas imports with the highest growth occurred in imports from China which rose 10.67 percent (mom), Germany (57.92 percent), Malaysia (26.23 percent), Australia (14.53 percent), and Kazakhstan (14.23 percent).

Cumulatively, imports in the January-August 2022 period reached 159.68 billion dollars, up 29.84 percent from the same period in 2021.

The Import growth was driven by an increase in non-oil and non-gas imports by 22.71 percent, and an increase in oil and gas imports by 79.81 percent (yoy).

Reporting by Indonesia Window

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