REPUBLIKA.CO.ID, JAKARTA -- Import credit growth far exceeds export credit in banks. The highest growth was seen in state owned banks data.

Bank Indonesia recorded that import credit grew 86.4 percent year on year (yoy) worth 65.8 trillion IDR in September 2013, while export credit only grew 8.8 percent yoy from 50.6 trillion IDR in September 2012 to 55.1 trillion IDR September 2013.

State owned banks recorded the highest credit import growth worth 235.2 percent yoy or 27.5 trillion IDR, followed by foreign banks with growth of 49.3 percent yoy or 16.3 trillion IDR. Joint venture banks grew 42.3 percent or 7.02 trillion IDR, while private banks import credit increased 33.5 percent or 14.9 trillion IDR.

Export credit of foreign banks reached 10.1 trillion IDR or grew 24.5 percent, while private banks reached 13.3 trillion IDR or grew 23.7 percent. State owned banks are only able to book growth of export credit about three percent ot 13 trillion IDR, while joint venture banks grew only 1.87 percent or 18.5 trillion IDR.

The biggest state owned bank, PT Bank Mandiri Tbk recorded import credit worth 46 billion USD, while export credit stood at 41.9 billion USD. Director of Commercial and Business Bank Mandiri, Sunarso said that export credits were dominated by commodities.

"The commodities are mining, palm oil and rubber," Sunarso said.

Sunarso claimed that the import credit dominated by capital goods and raw materials, while consumer goods only grew six percent of total credit. 

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