Trade Balance Deficit is in Line with the Increasing Domestic Economy Activities - Bank Sentral Republik Indonesia
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December 01, 2020

No. 20/ 43 /DKom

Indonesia’s trade balance in April 2018 has deficit of 1.63 billion US dollar in line with the increasing domestic economy activities. The deficit is also affected by the deficit in non-oil and gas trade balance as well as oil and gas trade balance. Cumulatively from January to April 2018, Indonesia’s trade balance records deficit of 1.31 billion US dollar.

Non-oil and gas trade balance in April 2018 records deficit of 0.50 billion US dollar, attributable to the increasing non-oil and gas import amidst non-oil and gas export slowdown. Non-oil and gas import is recorded 13.77 billion US dollar, increasing by 1.55 billion US dollar compared to the import in March 2018, primarily attributable to the increasing import of capital goods and raw materials, including machine and electrical device, iron and steel, cereals, remains of food industry, as well as aircrafts and the components. The increasing import closely relates to the consistently increasing production and investment activities in line with the continued domestic economy. Meanwhile, non-oil and gas export is recorded 13.28 billion US dollar, decreasing by 0.97 billion US dollar from that in March 2018, particularly attributable to the decreasing export of mineral fuel, animal/vegetable fat and oil, jewelleries/precious stones, ore, crust, metal ash, as well as iron and steel. Cumulatively from January to April 2018, non-oil and gas trade balance still records surplus of 2.50 billion US dollar.

Oil and gas trade balance records increasing deficit attributable to the decreasing oil and gas export amidst the increasing oil and gas import. Deficit in oil and gas trade balance in April 2018 is recorded 1.13 billion US dollar, increasing by 0.90 billion US dollar in March 2018. This development is affected by the decreasing oil and gas export by 0.15 billion US dollar (mtm), primarily crude oil export. Meanwhile, oil and gas import increases by 0.08 billion US dollar (mtm), particularly coming from import of oil and gas products. Cumulatively, oil and gas trade balance has deficit of 3.81 billion US dollar, slightly higher than that in the same period in the previous year, which reached 3.19 billion US dollar.

Bank Indonesia considers the trade balance deficit in April 2018 closely relates to the increasing production and investment activities, in line with the improving domestic economy prospect. Going forward, Bank Indonesia believes trade balance performance will improve in line with the continued global economic recovery and high global commodity’s prices. This estimate will in turn support economic growth prospect and resilience of current transaction balance.

Jakarta, 15 May 2018
Communication Department

Agusman
Executive Director

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