JAKARTA (RambuEnergy.com) – Indonesia recorded trade deficit of US$1.1 billion in December, narrowed from a deficit of US$2.05 in the previous month, the Central Statistic Agency (BPS) said on Tuesday (Jan. 15).
In December, Indonesia recorded exports of US$14.18 billion, while imports were at US$15.28 billion, resulting in a trade deficit, the Head of BPS Kecuk Suhariyanto told reporters.
The main contributor to the trade deficit was fuel imports, which reached US$1.28 billion, while fuel exports reached only US$107 million, which resulted in a fuel trade deficit of US$1.17 billion.
The overall deficit recorded in December was driven by a decline in exports and a slight increase in imports on a year-on-year basis at 1.16%.
Non-oil and gas exports in December reached US$12.43 billion, fell 8.15% from the previous month and fell 7.01% from the same month in the previous year.
Total imports reached US$15.28 billion in December, fell 9.6% from the previous month, but up 1.16% from December 2017.
Non-oil and gas imports in the month reached US$13.31 billion, fell 5.14% from November and declined 23.3% from December 2017.
The main export destinations in December are China valued at US$1.67 billion followed by the US at US$1.48 billion and Japan US$1.16 billion. The three countries hold a share of 34.70% as Indonesia’s main export destinations. Exports to EU reached US$1.33 billion.
Cumulatively, Indonesia recorded exports of US$180.06 billion in 2018, increased 6.65% from 2017, in which non-oil and gas exports reached US$162.65 billion, up 6.25% from the previous year.
Meanwhile, imports in January-December 2018 reached US$188.63 billion. As a result, Indonesia recorded trade deficit of US$8.57 billion for the full year 2018. In 2017, Indonesia recorded exports of US$168.83 billion and imports of US$156.98 billion, resulting in a trade surplus of US$11.84 billion.
In 2018, Indonesia’s non-oil and gas import from China topped US$45.24 billion or 28.49% of the country’s imports, Japan at US$17.94 billion (11.3%) and Thailand US$10.85 billion (6.83%). Non-oil and gas imports from ASEAN contributed 19.85% to total imports and EU 8.86%. (*)
Written by Staff Writer, edited by Roffie Kurniawan (email: firstname.lastname@example.org)