Indonesia's August 2018 Trade Balance: US$1.02 Billion Deficit

The Central Bureau of Statistics released data showing that Indonesia's export value in August 2018 reached US$15.82 billion, down 2.9% from the previous month and 4.15% compared to August of the previous year. Meanwhile, the import value in August this year amounted to US$16.84 billion, down 7.97% from the previous month and 11.79% from August of the previous year. As a result, the trade balance again experienced a deficit of US$1.02 billion. This is the sixth deficit this year.

Cumulatively, Indonesia's export value from January to August 2018 reached US$120.1 billion, only growing 10.39% from the same period the previous year. Meanwhile, the cumulative import value from January to August 2018 reached US$124.19 billion, increasing by 24.52% from the same period the previous year. Therefore, Indonesia's trade balance with all its partners showed a deficit of US$4.09 billion.

For non-oil and gas exports in the January-August 2018 period, there was an increase of 10.02% to US$108.69 billion, while oil and gas exports increased by 14.04% to US$11.41 billion. Meanwhile, oil and gas imports in the January-August period of this year increased by 23.83% to US$104.14 billion, and non-oil and gas imports increased by 28.31% to US$19.77 billion.

(Read Databoks: Indonesia Experienced Consecutive Trade Deficits in 2012-2014)