Indonesia, a country with more than 260 million people, is one of Southeast Asia’s largest economies. As a country that is rich in natural resources, Indonesia is an important player in international trade. Its exports and imports are closely monitored by the government, businesses, and the public. In this article, we will discuss the Neraca Ekspor Impor Indonesia 2018 – or the Indonesian Balance of Trade – and its impact on the country’s economy.
What is Neraca Ekspor Impor Indonesia?
Neraca Ekspor Impor Indonesia (NEI) is a record of Indonesia’s exports and imports during a certain period. It is an important economic indicator that shows how much the country earns and spends in international trade. The record is compiled by the Central Bureau of Statistics (BPS) and is usually released on a monthly basis.
NEI consists of two main components: exports and imports. Exports refer to goods and services that are produced in Indonesia and sold to other countries. Imports, on the other hand, refer to goods and services that are produced in other countries and are brought into Indonesia.
NEI in 2018
According to BPS, Indonesia’s NEI in 2018 recorded a trade deficit of USD 8.57 billion. This means that Indonesia imported more goods and services than it exported. The deficit was the highest in the past five years and was a result of declining global commodity prices and rising demand for imported goods.
Indonesia’s exports in 2018 amounted to USD 180.6 billion, a 6.65% increase from 2017. The country’s major export commodities include mineral fuels, mineral ores, and agricultural products such as palm oil and rubber. However, the increase in exports was not sufficient to cover the rising imports.
The country’s imports in 2018 amounted to USD 189.2 billion, a 19.7% increase from 2017. The major imported commodities include machinery and equipment, chemical products, and foodstuffs. The increase in imports was due to the high demand for capital goods, raw materials, and consumer goods in the domestic market.
The Impact of NEI on Indonesia’s Economy
The trade deficit in 2018 has raised concerns among the government, businesses, and the public. A trade deficit means that the country is spending more foreign currency than it is earning. This can lead to a decrease in the value of the currency, inflation, and a decrease in foreign investment. The government has taken steps to address the issue by introducing policies to boost exports and reduce imports.
One of the policies introduced by the government is the relaxation of export regulations. The government has simplified the export licensing process and reduced the export taxes for certain commodities. This is expected to increase the competitiveness of Indonesian exports in the global market.
The government has also introduced policies to reduce imports. One of the policies is the imposition of import taxes on luxury goods such as cars and electronics. This is expected to reduce the demand for imported goods and encourage the growth of domestic industries.
NEI is an important indicator of Indonesia’s economic performance in international trade. The government, businesses, and the public use the data to make informed decisions about investments, marketing strategies, and trade policies. By understanding the NEI, stakeholders can identify the strengths and weaknesses of Indonesia’s international trade and work towards improving it.
Conclusion
The Neraca Ekspor Impor Indonesia 2018 showed a trade deficit in Indonesia, which has raised concerns among the government, businesses, and the public. The deficit was a result of declining global commodity prices and rising demand for imported goods. The government has introduced policies to boost exports and reduce imports to address the issue. NEI is an important indicator of Indonesia’s economic performance in international trade, and stakeholders use the data to make informed decisions about investments, marketing strategies, and trade policies.
