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Indonesian exports, imports contract slightly in ‘encouraging’ sign: BPS

first_imgIn the first quarter of the year, the country booked a total of $41.79 billion in exports, a 2.91 percent increase from last year’s figure, while imports were $39.17 billion from January to March, a 2.69 percent decrease from the same period last year.Indonesia recorded a trade surplus of $2.62 billion during the first three months of the year, compared to a deficit of 62.8 million in the same period last year.BPS recorded $2.98 billion in imports from China in March, an increase of $1 billion from February’s figure, as Indonesia’s largest trading partner had started to recover from the COVID-19 pandemic.Exports to China, meanwhile, were $1.98 billion, up by $7 million compared to the same period last year. This made for a trade deficit of $1 billion with China in March, lower than the $1.24 billion deficit in March of last year.The World Trade Organization (WTO) projected that global trade would shrink by between 13 and 32 percent as the economic impact of the health crisis remained uncertain.The WTO forecasted a rebound in the 2021 global goods trade of between 21 and 24 percent, depending largely on the duration of the outbreak and the effectiveness of policy responses.Topics : Indonesia booked a US$743 million trade surplus in March as export and import activities contracted slightly amid the COVID-19 pandemic, Statistics Indonesia (BPS) has announced.Southeast Asia’s largest economy recorded $14.09 billion in exports in March, a 0.2 percent decrease year-on-year (yoy), while total imports fell 0.75 percent yoy to $13.35 billion driven by decreased imports of capital goods.“This figure is encouraging amid the uncertain global situation,” BPS chairman Suhariyanto said at a media briefing on Wednesday. Indonesia’s manufacturing exports grew by 7.41 percent yoy to $11.12 billion, driven by a significant increase in the exports of machines and electric appliances, as well as of iron and steel. Agricultural exports rose 17.82 percent yoy to $320 million.However, the country’s oil and gas exports declined by 40.91 percent yoy to $670 million as a result of falling oil prices, while exports of products of mining also fell by 16 percent yoy to $1.98 billion.Imports of consumption goods rose 10.66 percent to $1.27 billion as a result of Indonesia’s recent, huge purchase of guns and ammunition. Imports of raw materials increased by 1.72 percent to $10.28 billion, while imports of capital goods shrank by 18 percent to $1.8 billion.“We must, however, be aware of the decline in capital goods and raw materials, which may have a huge impact on trade and investment,” Suhariyanto added.last_img read more

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Jalen Rose proposes interesting NBA Draft trade rumor involving Pelicans, Bulls, Lakers

first_imgThe first three picks of the NBA Draft are pretty much set in stone, but things could get interesting with the fourth overall pick. The Lakers technically hold the pick, but they’ve agreed to trade the draft rights to the Pelicans as a result of the Anthony Davis deal. But New Orleans is reportedly shopping the pick around, which would lead to a confusing trade inception. If the Pelicans do make a deal, ESPN’s NBA analyst Jalen Rose predicts the Bulls will be involved. Sometimes @jalenrose makes a mistake and says things into microphones he shouldn’t. Then I put them on the internet because that’s what friends do: pic.twitter.com/gOLx53xRMw— Jacoby (@djacoby) June 20, 2019MORE: Full first round 2019 NBA Mock Draft What Rose reported isn’t quite as interesting as how he reported it. The social copy promoting the video says “sometimes [Rose] makes a mistake and says things into microphones he shouldn’t.” And in the video, Rose wonders aloud if he’s even allowed to say what he does.”I guess I’m gonna say this,” Rose said. “I was about to look at my phone and see if I was able to say this or not.”Here’s Rose’s proposal:Pelicans get: 7th pick, Zach LaVineBulls get: 4th pick, Lonzo BallThis isn’t the first time LaVine’s name has been tied to the Pelicans. ESPN’s Zach Lowe suggested the deal in a recent podcast appearance, although he made sure to point out there was no reporting behind it.One clarification: Beck and I had a spitballing session on who the Lakers/Pels might be able to get for 4th pick. I mentioned a bunch of potential targets, including Zach LaVine. That was just me speculating, not reporting. Worded it inelegantly, apologies for that. https://t.co/cxcbe1Pd01— Zach Lowe (@ZachLowe_NBA) June 13, 2019Ball’s name was also tied to the Bulls before the Lakers deal. There was speculation from some saying the Bulls were trying to get in on the Davis deal. Essentially the talk was the Bulls would receive what they ended up getting in Rose’s proposal. Would it make sense for the Pelicans and Bulls to make this trade?This trade is a good idea for the Bulls. They get to move up in the draft and take on a player still on his rookie contract in Ball. LaVine currently has an average salary of $19,500,000 until 2022 when he becomes a free agent. Ball, meanwhile, has an average salary of $7,489,280 until 2021. The deal doesn’t make a ton of sense for New Orleans, unless the Pelicans truly view LaVine as a much better option than Ball. LaVine is the better player, but is it worth taking on the extra salary and moving down three spots in the draft? It depends on how much the Pelicans really like LaVine.Rose seems to think some version of this deal could go down on draft night.last_img read more

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