Indonesia`s trade balance records highest deficit in November

Indonesia`s trade balance records highest deficit in November

Chief of the Central Statistics Agency (BPS) Suharyanto said. (bps.go.id)

Jakarta (ANTARA News) - Indonesia`s trade balance in November suffered the highest deficit of US$2.05 billion throughout 2018, Chief of the Central Statistics Agency (BPS) Suharyanto said.

"The trade balance in November recorded a fairly deep deficit due to a deficit in the oil/gas and non-oil/non-gas sectors, which reached $1.46 billion and $0.58 billion, respectively," he stated here on Monday.

Suharyanto noted that Indonesia`s exports in November reached $14.83 billion, falling 6.69 percent compared to a month earlier and 3.28 percent compared to the same month last year.

Cumulatively, Indonesia`s exports in the January-November period reached $165.81 billion, up 7.69 percent compared to the same period last year, while its non-oil/non-gas exports rose 7.47 percent to $150.15 billion.

Meanwhile, Indonesia`s imports in November stood at $16.88 billion, down 4.47 percent compared to October. But imports rose 11.08 percent compared to November last year.

The greatest decline in non-oil/non-gas imports compared to a month earlier included electrical machines/apparatuses at $201.1 million or 10.04 percent. However, the import of beverages rose $75.3 million or 470.63 percent.

Compared to the same period last year, the import of all goods, including consumer goods, raw materials and capital goods, in the January-November 2018 period rose 23.72 percent, 21.44 percent, and 24.80 percent, respectively.

"We hope the import of raw materials and auxiliary materials would boost the domestic industrial productivity, so that the economic growth would increase accordingly," he explained.

Reporting by Sella Panduarsa Gareta
Editing by Suharto, Sri Haryati

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