Finance Minister: Imports Rise Due To Supporting The Production Sector

By : Ridwan And Aldi Firhand. A | Tuesday, June 26 2018 - 22:34 IWST

Menteri Keuangan Sri Mulyani Indrawati
Menteri Keuangan Sri Mulyani Indrawati

INDUSTRY.co.id - Jakarta, Central Bureau of Statistics (BPS) noted that Indonesia's trade balance in May 2018 experienced a deficit of up to 1.52 billion US dollars.

Meanwhile, export value in May 2018 was recorded at 14.54 billion US dollars, an increase of 16.31 percent compared to the previous month and up 22.28 percent (yoy).

While for imports in May 2018 recorded reached 17.64 billion US dollars, an increase of 9.17 percent compared to the previous month and up 24.75 percent (yoy).

Finance Minister Sri Mulyani Indrawati confirmed the increase in import value in May 2018 will support investment activities in the production sector.

"This increase in imports to support the production sector," he said in a press conference on the development of the state budget in Jakarta (26/6/2018).

Sri Mulyani said that imports recorded during this period were mostly capital goods and raw materials needed to boost production in various economic sectors.

Therefore, if the portion of this import is reduced in the short term, then the impact has the potential to disrupt investment performance and reduce economic growth.

However, he ensures the government in the medium to long term will build a domestic industry oriented to raw materials to reduce imports.

"The government will continue to improve the 'policy' to build the domestic industry so that the needs of intermediate goods and capital goods can be fulfilled in the country," said Sri Mulyani.

In addition, according to him, strengthening the structure of domestic competitiveness is also very important in order to increase export performance and trade balance deficit diminishing.

News Comment

Today's Industry

FeedsFloor

Kamis, 28 Mei 2020 - 16:15 WIB

PATA and FeedsFloor Sign Organisational Partnership

The Pacific Asia Travel Association (PATA) is pleased to announce a new organisational partnership with FeedsFloor, a digital platform that enables clients to create and manage various event-related…

Veolia Water Technologies

Kamis, 28 Mei 2020 - 15:45 WIB

Veolia Water Technologies & Urban Utilities to Install Asia Pacific’s First Full-Scale Sidestream Mox Treatment Plant

Veolia Water Technologies and Urban Utilities are working to install Asia Pacific’s first full-scale sidestream ANITA Mox treatment plant this year. A first-of-its-kind in Australia, this…

HackerOne (Images by Tekno Tempo.co)

Kamis, 28 Mei 2020 - 15:15 WIB

The Global Community of Hackers Uncovered 170,000 Vulnerabilities

A bounty — or bug bounty — is a monetary award given to a hacker who finds and reports a valid security weakness to an organisation so it can be safely resolved. With nearly half of bounty…

HIMA (Photo by Rail Solutions Asia 2019 - German Pavilion)

Kamis, 28 Mei 2020 - 14:29 WIB

How to Keep Your Plant Running

Even with minimum internal staffing levels, plants can operate safely. The number of employees required onsite at any one time depends, of course, on the size and complexity of the plant. Even…

OSSRA (Photo by Synopsys)

Selasa, 26 Mei 2020 - 12:15 WIB

Key Findings from The OSSRA 2020 Report

Our 2020 OSSRA infographic shows key findings and open source trends from the Synopsys Open Source Security and Risk Analysis report