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

President Jokowi inspects vaccination for students at State Vocational High School SMKN 1 Beringin, Deli Serdang regency, Thursday (16/9). (Photo by: Presidential Secretariat/Laily Rachev)

Senin, 20 September 2021 - 13:05 WIB

President Jokowi Lauds Students’ Enthusiasm for In-Person Learning

President Joko “Jokowi” Widodo inspected COVID-19 vaccination for students at Vocational High School SMKN 1 Beringin, Deli Serdang regency, North Sumatra, Thursday (16/9).

Vice President Ma’ruf Amin (Photo: BPMI)

Senin, 20 September 2021 - 12:15 WIB

VP Calls for Public Collaboration to Combat Drugs Abuse

Vice President Ma’ruf Amin has urged the nation to join hands and participate in a joint effort to eradicate drug abuse.

President Jokowi on his inspection of door-to-door vaccination at Panampaan village, Harjamukti district, Cirebon city, Tuesday (31/08). (Photo by: BPMI/Muchlis Jr)

Senin, 20 September 2021 - 11:08 WIB

President Jokowi in Aceh to Inspect Door-to-Door COVID-19 Vaccination

President Joko “Jokowi” Widodo started his working visit in the provinces of Aceh and North Sumatra by inspecting the door-to-door COVID-19 mass-vaccination in Aceh Besar regency.

Hypertherm, a U.S. based manufacturer of industrial cutting systems and software.

Rabu, 15 September 2021 - 20:15 WIB

Hypertherm Introduces Three New Plasma Systems With Built-in Intelligence and a Revolutionary Single-Piece Cartridge Consumable

Hypertherm, a U.S. based manufacturer of industrial cutting systems and software, today announced three new air plasma systems called Powermax SYNC™. Featuring built-in intelligence and a…

The Pacific Asia Travel Association (PATA)

Rabu, 15 September 2021 - 19:44 WIB

PATA launches Virtual PATA Wellness and Luxury Travel Conference and Mart 2021 in October

The Pacific Asia Travel Association (PATA) is pleased to announce the launch of the Virtual PATA Wellness and Luxury Travel Conference and Mart 2021, taking place from October 20-22.