Indonesia`s trade deficit reaches US$5.6 billion

Indonesia`s trade deficit reaches US$5.6 billion

Trade Minister Gita Wirjawan, is givimg a press statement regarding the performance of exports and imports in 2013. Indonesia`s trade deficit from January to November 2013 reached US$5.6 billion, caused by oil/gas trade deficit pressure worth US$11.8 billion. (ANTARA FOTO/Ismar Patrizki) ()

The deficit in the oil and gas trade until November 2013 had reached US$11.8 billion pressuring non-oil/gas trade surplus which stood at US$6.2 billion.
Jakarta (ANTARA News) - Indonesias trade deficit from January to November 2013 reached US$5.6 billion, caused by oil/gas trade deficit pressure worth US$11.8 billion, stated Trade Minister Gita Wirjawan.

"Cumulatively the deficit from January to November 2013 reached US$5.6 billion," he noted at a press conference here on Friday.

He added that the deficit in the oil and gas trade until November 2013 had reached US$11.8 billion pressuring non-oil/gas trade surplus which stood at US$6.2 billion.

"It is difficult to predict if there will be a surplus or a deficit in December 2013," he explained.

He stated that with the trend of economic growth in the developed countries being quite high, it was expected that exports will continue to increase.

"Indeed having a surplus is not a must but we still rely on crude oil imports," he pointed out.

Gita added that oil imports always caused a deficit on the trade balance reaching US$1 billion a month.

"It is not a small amount. How much ever surplus we make from the non-oil/gas sector it will be difficult to maintain if oil/gas imports are still that high," he explained.

According to the National Statistics Agency the countrys balance of trade was in surplus of US$775.8 million with exports reaching US$15.93 billion and imports at US$15.15 billion, making the surplus the highest since April 2012.

The export value in November was an increase of 1.45 percent compared to the export value in October recorded at US$15.69 billion.

Cumulatively Indonesias export value from January to November 2013 was recorded at US$165.57 billion or down by 5.19 percent as compared to that of the same period in 2012.

Oil/gas imports meanwhile rose by 13.39 percent or US$3.94 billion compared to US$3.47 billion in October.(*)

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