RI's exports rise to $22.3b in Q1

A recent rise in the value of oil and gas exports amid rising crude oil prices has helped boost Indonesia?s already strong export performance for bituminous fuels and rubber by 12 percent during the first three months of the year as compared to the same period last year, The Jakarta Post reported on Tuesday.

Indonesia?s total exports from January to March 2006 reached US$22.3 billion, the Central Statistics Agency (BPS) reported Monday, compared to $15.5 billion during last year?s first quarter.

The country?s oil and gas exports up to the end of March surged by almost 19 percent to $5.1 billion, as international oil prices averaged around $62 per barrel. The price of oil has now increased further to $72 per barrel.

In March alone, exports of oil and gas increased by 4 percent to $1.7 billion from February, BPS director Choiril Maksum said, as Indonesian crude prices for the month rose to US$61.72 a barrel from $61.19 in February. (*)