Customer shops at traditional market. Wet markets and traditional grocery shops are holding on to customers in rural areas and small towns, but they are losing ground in larger towns and cities. (Photo: The Insider Stories)
JAKARTA (TheInsiderStories) — Indonesia trade balance continued its shortfall. The November 2018’s trade balance deficit recorded at US$2.05 billion, $230 million bigger that October, worst since 5 years ago

The deficit caused by $14.83 billion of shrinking exports, down by 6.69 percent compared to October and 3.28 percent from November last year. The decline was contributed to the non-oil and gas sectors, with the highest drop being in jewelry and gems. Meanwhile, the highest export increase was from ore, crust and metal ash.

Accumulatively, Indonesia’s exports during January-November 2018 reached $165.81 billion, an increase of 7.69 percent from the same period last year. Non-oil and gas exports spiked 7.47 percent to $150.15 billion, with the highest export destinations being China, with $2.01 billion worth, the United States with $1.46 billion, and Japan with $1.36 billion. Exports to those three countries comprised of 35.87 percent of all Indonesian exports.

Meanwhile, Indonesia’s November imports were recorded at $16.88 billion, down by 4.47 percent compared to October. Oil and gas imports total $2.84 billion while non-oil and gas are $14.04 billion. Non-oil and gas highest import cutback is in machinery and electricity equipment, while the highest upturn in the drinks category.

Indonesia’s three highest non-oil and gas importers are China valued $40.85 billion, Japan with $16.61 billion, and Thailand with $10.09 billion.

Imports value of all categories for consumer goods, raw and auxiliary goods, also capital goods during January-November 2018, increased respectively at 23,72 percent, 21,44 percent, and 24,80 percent compared to the same period of the previous year.

Indonesia has recorded mostly deficits in the trade balance during 2018, with July recording the largest gap at $2 billion. So far, there were three monthly surpluses, in March, June, and September.

Written by Staff Editor, Email: theinsiderstories@gmail.com

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