Trade Deficit Potentially Hits Record High Since 2012

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15/11/2017 13:33 WIB

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Indonesia's Balance of Trade (2012-October 2017)

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Indonesia's Balance of Trade (2012-October 2017)

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Indonesia's trade surplus is poised to reach its highest level since 2012. Data from the Central Statistics Agency (BPS) shows that the January-October 2017 trade balance recorded a surplus of US$11.78 billion. This figure is up 54.04 percent compared to the same period the previous year, which was only US$7.65 billion. This achievement also surpasses the 2016 trade surplus of US$9.53 billion.

Indonesia's export value from January to October 2017 reached US$138.46 billion, while imports were valued at US$126.68 billion. As a result, Indonesia's trade balance is likely to record its largest surplus in the last six years, since experiencing a deficit in 2012.

The trade balance recorded a deficit in 2012-2014 due to the global financial crisis and the slow recovery of the European economy. This was further exacerbated by the fall in global crude oil prices, followed by a decline in the prices of Indonesia's main commodities due to weak global demand. However, Indonesia's trade balance has recorded a surplus again since 2015.

"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."

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