Minister of Trade Zulkifli Hasan has stated that Indonesia’s import value in March 2023 reached US$20.59 billion, a 29.33 percent increase compared to February 2023.
“The improvement in Indonesia’s import performance in March 2023 was pushed by the increase in migas (oil and gas) imports by 25.28 percent and non-migas imports by 30.05 percent MoM (month-on-month),” he pointed out in a statement released on Wednesday.
The rise in imports was in response to high domestic demand ahead of Ramadhan and Eid al-Fitr.
This was reflected from the improving Consumer Trust Index, which improved to 123.3 in March 2023 from 122.4 in February 2023.
Additionally, the Indonesian manufacturing Purchasing Managers’ Index (PMI) increased from 51.2 in February 2023 to 51.9 in March 2023 and the domestic manufacturing industry is expanding due to the rising demand.
The improvement in Indonesia’s imports occurred in all goods usage categories, with capital goods imports having the highest increase of 34.35 percent, followed by consumption goods at 29.12 percent, and raw/auxiliary materials at 28.17 percent.
In March 2023, the main non-migas import products with the highest monthly increase were air vehicles and their components, seeds and fruits containing oil, knitted fabrics, artificial filaments and cotton.
Based on the country of origin, Indonesia’s non-migas imports mostly came from China, Japan, and Thailand, accounting for 47.18 percent out of the total non-migas imports.—Antara News
