Monday, 20 November 2023 - North Sulawesi Province, is the center of attention in the analysis of exports and imports with a focus on customs revenues, import and export data until October 2023. Several important points emerge from the data presented:
In managing imported goods, it is important to distinguish whether the goods are used for consumption or investment. Determination of customs tariffs uses the HS Code (Harmonized System) to calculate the burden of entry fees related to tax payments.
Export and import data are critical elements in economic analysis. Therefore, the accuracy of import data, including the quantity, type and value of goods, must be carefully considered. Meanwhile, cleansing export data needs to be carried out to ensure the accuracy and validity of the information.
Comparison of export and import data between 2022 and 2023 shows a decline in aggregate value. This could indicate changes in international trade dynamics and global economic conditions.
Export duties are imposed on certain commodities such as cocoa beans, mineral processing products, palm oil, CPO and its derivative products, wood and leather, as well as metal mineral products with certain criteria. This reflects efforts to regulate and control imports of certain goods.
Regional customs revenues in North Sulawesi Province include import duties, export duties and excise. Total revenues until October 2023 reach a significant amount, with the majority coming from import duties.
The province's foreign exchange imports in 2023 will reach 160.6 million USD, with crude oil and its derivatives being the largest imported product based on foreign exchange value. Meanwhile, the decline in the foreign exchange value of exports was influenced by the decline in global CPO prices, affecting demand for related goods.
Fats and oils are the largest contributors both in terms of value and export volume. Even though there was a decrease in overall export revenues, it was noted that there was an increase in excise duty in North Sulawesi Province in 2023 when compared to the same period in the previous year.
This analysis provides in-depth insight into the dynamics of trade, customs revenues and economic changes that may occur in North Sulawesi Province in 2023.
