The Impact of Ramadan and Eid al-Fitr: Sharp Decline in Exports and Imports

Indonesia's export value in June 2017 decreased by 18.82 percent compared to the previous month. Similarly, import value also dropped drastically by 27.26 percent, impacted by Ramadan and the 2017 Eid al-Fitr celebrations. Reduced working hours during Ramadan and the extended holiday period in June 2017 caused a sharp decline in national export and import activities.

The export value in June 2017 fell to Rp 11.64 billion from US$14.35 billion the previous month, and was also lower than the June 2016 figure of US$13.21 billion. However, during the first half of 2017, Indonesian exports still recorded a 14.03 percent increase to US$79.96 billion (Rp 1,065 trillion) from US$70.12 billion in the first half of 2016.

Similarly, the national import value in June 2017 decreased to Rp 10.01 billion from US$13.77 billion the previous month, and was also lower than the June 2016 figure of US$12.1 billion. However, Indonesian imports during the first half of the year still grew by 9.6 percent to US$72.33 billion (Rp 963.39 trillion) from US$65.99 billion in the first half of 2016. Therefore, in the first six months of 2017, Indonesia's trade balance still recorded a surplus of US$7.63 billion.