Effect of most sugar imports, Indonesian trade draws short from Brazil

Published 2024년 5월 15일

Tridge summary

In April 2024, Indonesia's trade deficit with Brazil reached US$ 388.3 million, driven mainly by imports of cane sugar and food industry waste. This deficit has grown from US$ 359 million in March 2024 and US$ 215.9 million in April 2023. From May 2020 to April 2024, Brazil has contributed to a cumulative trade deficit of US$ 9.64 billion. Additionally, Indonesia faces trade deficits with Australia (US$ 438.5 million) and Germany (US$ 155.1 million), and substantial deficits with Singapore (US$ 18.91 billion) and Australia (US$ 21.35 billion) over the same period.

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Original content

Jakarta, CNBC Indonesia - Indonesia's trade balance will be in deficit with Brazil in April 2024. This is due to the dominance of imports of sugar and food industry dregs. Based on data from the Central Statistics Agency (BPS), Indonesia's trade balance will have a deficit or deficit of US$ 388.3 million with Brazil in April 2024. The export and import balance deficit swelled from the March 2024 record of US$ 359 million. In April 2023, the deficit will only be US$ 215.9 million. "During the period May 2020-April 2024, Brazil was one of the countries contributing to the largest deficit worth US$ 9.64 billion," said BPS Deputy for Distribution and Services Statistics Pudji Ismartini at a press conference, Wednesday (15/5/2024). Pudji said that the lag in Indonesia's trade balance with Brazil was due to imports of sugar and confectionery which were included in the HS 17 group. "The main thing is HS 17011400, other cane sugar, yes, this is a commodity imported from Brazil," said ...

Source: Cnbcindonesia