Through July 2018, the balance of trade and payments showed a deficit.

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16/08/2018 15:20 WIB

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The high demand for imported goods coupled with the limited export share of national products due to global uncertainty has resulted in a trade deficit this year.

Balance of Trade and Current Account (Jan 2013-Jul 2018)

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Balance of Trade and Current Account (Jan 2013-Jul 2018)

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High import demand amidst limited export shares of national products due to global uncertainty has resulted in a trade deficit throughout this year. Meanwhile, the balance of payments shows a deficit due to a significant difference between primary income payments and primary income receipts of US$16.06 billion in the first half of this year.

Indonesia's trade balance for the January-July 2018 period recorded a deficit of US$3.09 billion, equivalent to Rp 44.78 trillion. In the same period of the previous year, a surplus of US$7.39 billion was recorded. The faster growth in import value compared to export value puts the trade balance at risk of a deficit this year unless the government implements policies to curb the surge in imports.

Indonesia's balance of payments in the first quarter of this year showed a deficit of US$3.85 billion, and in the second quarter, a deficit of US$4.3 billion. Therefore, the total balance of payments deficit up to the first half of 2018 reached US$8.16 billion, while in the same period of the previous year, there was a surplus of US$5.25 billion.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."