"In November, our exports were recorded at $14.01 billion and imports at $15.34 billion. Hence, a trade deficit of $1.33 billion was recorded," BPS head Suhariyanto remarked here on Monday.
The deficit was led by the oil and gas sector reaching $1.02 billion, while the non-oil and gas sector posted a deficit of $300.9 million during the period.
However, the deficit in November 2019 was yet lower than that of the corresponding period of 2018, at $2.06 billion.
Exports in November 2019 dropped 6.17 percent than the previous month and declined 5.67 percent from the same period in 2018.
Processing industry exports during the period from January to November plunged 3.55 percent than the corresponding period in 2018, exports of mining products decreased 16.35 percent, while the exports of agricultural products rose 3.50 percent.
In total, Indonesia's exports during the period from January to November were recorded at $153.11 billion, or decreased 7.61 percent than the same period of 2018.
Imports in November 2019 increased 3.94 percent to reach $15.34 billion than those during the previous month of the year, though declining 9.24 percent than the imports in November 2018.
Machinery and electrical equipment recorded the biggest rise in non-oil and gas imports as compared to October, at $146.8 million, or 8.13 percent, while the imports of cerealia dipped $69.8 million, or 22.83 percent.
Total imports during the period from January to November 2019 had reached $156.2 billion, a 9.88-percent drop in comparison with the corresponding period of 2018.
Considering the first 11 months of the year, the trade deficit narrowed sharply to $3.1 billion, from $7.57 billion during the same period of 2018.
"We have to be extra cautious amid this global economic slowdown and declining demand," Suhariyanto pointed out. Related news: Indonesia's trade balance recorded USD0.16 billion in September
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