Overview of Jambi Province's Latest Exports and Imports

Export and import is one of the activities that affect the economy of a country. In addition to increasing the country's foreign exchange, import-export activities can also strengthen relations between countries that carry out such cooperative relations.

BPS noted that in July 2022 the value of exports from Jambi Province decreased by 11.12 percent compared to the previous month, from US$ 308.45 million in June 2022 to US$ 274.16 million in July 2022. However, cumulatively the export value of the semester 1 year 2022 increased by 30.42 percent compared to semester 1 of the previous year.

The five largest Jambi export destinations in July 2022 are Singapore, the United States, Japan, China and India.

Until semester 1 of 2022, the mining group made the largest contribution to total exports in Jambi, which amounted to 62.61 percent which was dominated by oil and gas commodities, followed by the Industry group at 31.03 percent with rubber and its processed commodities as the largest contributor, lastly the agricultural group. contributed 6.35 percent with areca nut as the prima donna.

In line with exports, the import value of Jambi Province in July 2022 decreased by 42.06 percent compared to the previous month, from US$ 3.57 million in June 2022 to US$ 2.07 million in July 2022. However, when compared to semester 1 in 2022 with the previous year's total imports of Jambi province increasing by 13.40 percent.

The five countries with the largest import transactions in July 2022 were from China, Singapore, India, Malaysia, and Sweden.

During July 2022 imports into Jambi Province through 2 (two) ports, namely Talang Duku Port by 54.98 percent and through Kuala Tungkal Port by 45.02 percent.

The trade balance is the difference between the value of all goods and services exported and imported from a country in a certain period of time. If the value of exports is greater than imports, there is a surplus, otherwise if imports are greater than exports, there is a deficit.

The goods trade balance of Jambi Province during July 2022 SURPLUS amounted to US$ 272.09 million, and cumulatively during semester 1 of 2022 Jambi Province SURPLUS amounted to US$ 1,688.33 million. When compared to semester 1 of 2021, the trade balance surplus generated this year is greater, where in semester 1 of 2021 the trade balance of goods produced by Jambi Province only reached US$1,083.86 million.

The development of exports and imports of Jambi Province has improved, which is expected to further move the economy of Jambi Province to a better direction. The improvement in export performance, which is also indicated by the trade balance surplus of Jambi Province in the past year, can be a positive signal that demand for Indonesia's non-oil and gas industry has begun to improve, and of course, these non-oil and gas commodities can play a more important role in overall economic performance. (Jambi data/)