Indonesia records trade balance deficit of US$63.5 million

Indonesia records trade balance deficit of US$63.5 million

Head of the National Statistic Agency Suhariyanto announced the report of Indonesia's trade balance for July 2019 period in Jakarta on Thursday (August 15, 2019). (ANTARA/Sella Panduarsa Gareta/YA)

The deficit in July 2019 was due to the oil and gas sector deficit of $142.4 million, even though other sectors experienced a surplus of $78.9 million
Jakarta (ANTARA) - Indonesia's trade balance in July 2019 recorded a deficit of US$63.5 million with a total export value of $15.45 billion and imports of $15.51 billion, the Central Statistics Agency (BPS) has reported. "The deficit in July 2019 was due to the oil and gas sector deficit of $142.4 million, even though other sectors experienced a surplus of $78.9 million," Head of the Central Statistics Agency Suhariyanto said here Thursday.

Indonesia's export value in July 2019 increased by 31.02 percent from June 2019. However, that is a decrease of 5.12 percent when compared to the exports in July 2018.

Meanwhile, non-oil and gas exports in July 2019 reached $13.85 billion, an increase of 25.33 percent from June 2019. That is also an increase of 6.88 percent compared to exports in July last year.

Indonesia's total exports value from January to July 2019 reached $95.79 billion, which is a decrease of 8.02 percent compared to the same period in 2018. The value of non-oil exports also rose by 6.58 percent and reached $88.07 billion.

Indonesia's imports in July 2019 rose by 34.96 percent compared to June 2019, which is an increase of 15.21 percent compared to July 2018, BPS also reported.

Non-oil and gas imports in July 2019 reached $13.77 billion or rose by 40.72 percent compared to June 2019. However, that is a decrease of 11.96 percent compared to July 2018.

"Oil and gas imports in July 2019 reached $1.75 billion, a 2.04 percent increase compared to June 2019. It is an increase of 34.29 percent compared to July 2018," Suhariyanto stated.

Therefore, Indonesia's trade balance from January to July 2019 period experienced a deficit of $1.9 billion, which is better than the deficit of $3.2 billion in the same period last year.

"Our deficit is getting smaller. Although, in the future, we still need to take the right policy," Suhariyanto said in conclusion.  

 

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