Rabu 01 Aug 2012 23:45 WIB

Indonesia suffers deficit in trade with ASEAN countries

Foto: Republika/Wihdan Hidayat

Indonesia rupiah (illustration)

REPUBLIKA.CO.ID, JAKARTA - Indonesia suffered a deficit of 727 million USD in its non-oil/gas trade with members of the Association of Southeast Asian Nations (ASEAN) in the first semester of this year, according to the National Statistics Agency (BPS). "Indonesia`s non-oil/gas exports to ASEAN countries in the first semester of this year is 15.46 billion USD while its imports from those countries reach 16.18 billion USD. So our balance of trade with ASEAN countries is deficit," BPS Chief Suryamin said on Wednesday.

He said based on the previous balance of trade Indonesia`s exports to ASEAN countries dropped by around 7.5 percent from 16.71 billion USD while its imports rose 11.34 percent from 14.54 billion USD. "ASEAN countries have so far been Indonesia`s export destinations providing a market share of 20.12 percent of the country`s total non-oil/gas exports while imports from those countries comprise 21.59 percent of the total domestic market share," he said.

Indonesia`s three ASEAN main trade partners that have been the biggest sources of Indonesian imports are Singapore, Thailand and Malaysia. Indonesia`s imports from Singapore are worth 5.45 billion USD, Thailand 5.76 billion USD and Malaysia 3.19 billion USD while imports from other ASEAN countries are worth 1.78 billion USD.

The three countries have also been Indonesia`s main export destination countries with Indonesia`s exports to Singapore reached 5.05 billion USD, Malaysia 4.47 billion USD and Thailand 2.69 billion USD.

In terms of destinations China has remained Indonesia`s biggest export destination market with the country`s exports in the first half of this year reached US$10.45 billion. It was followed by Japan (8.72 billion USD), the US (7.46 billion USD) and India (6.04 billion USD).

According to Bali Concord II in 2003 ASEAN leaders agreed to create an ASEAN Community by 2015 based on three pillars, namely political and security, economic and socio-cultural communities. In view of that, Indonesia has to cover its deficit in the next three years as following the creation of economic community ASEAN would be a single market with goods from member countries would be freely moving in the region.