Worst of the Year, Trade Balance in November Declines
PojokId. Indonesia's trade balance has again suffered a deficit in November 2018. Based on data from the Central Statistics Agency (BPS) released today, the cause is a drop in export value of 3.28% year on year (yoy). While the import value was recorded at 16.88 billion US dollars, up 11.68% (yoy).
"Our November trade balance has a quite deep deficit of US $ 2.05 billion," Head of the Central Statistics Agency (BPS) Suhariyanto said in his office on Monday.
Thus, this trade deficit is the worst this year. Based on BPS data, Indonesia's trade balance was recorded at 1.8 billion US dollars in October and reached 2.03 billion US dollars in July.
Even so, the value of Indonesia's imports in November was down 4.47 percent compared to October 2018.
Oil and gas imports which have been the cause of the deficit, in November 2018 fell to 2.84 billion or 2.80 percent compared to October. But it rose 28.72 percent compared to November 2017.
While non-oil and gas imports reached 14.04 billion US dollars, down 4.80 percent compared to October, while compared to November of the previous year it increased by 8.79 percent.
The largest decline in non-oil imports in November occurred in the electrical machinery / equipment category amounting to 201.1 million US dollars or 10.04 percent. While the largest increase in imports was the beverage group of US $ 75.3 million or 470.63 percent.
The three largest suppliers of non-oil and gas imported goods during January-November 2018 were occupied by China with a value of 40.85 billion US dollars (28.08 percent), Japan 16.61 billion US dollars (11.41 percent), Thailand with 10, 09 billion US dollars or 6.49 percent. Non-oil and gas imports from ASEAN 20.08 percent while from the European Union 8.93 percent.
The import value of all categories of use of goods both consumption, raw / auxiliary materials, and capital goods during January-November 2018 increased compared to the same period of the previous year, respectively 23.72 percent, 21.44 percent, and 24.80 percent.
"Our November trade balance has a quite deep deficit of US $ 2.05 billion," Head of the Central Statistics Agency (BPS) Suhariyanto said in his office on Monday.
Thus, this trade deficit is the worst this year. Based on BPS data, Indonesia's trade balance was recorded at 1.8 billion US dollars in October and reached 2.03 billion US dollars in July.
Even so, the value of Indonesia's imports in November was down 4.47 percent compared to October 2018.
Oil and gas imports which have been the cause of the deficit, in November 2018 fell to 2.84 billion or 2.80 percent compared to October. But it rose 28.72 percent compared to November 2017.
While non-oil and gas imports reached 14.04 billion US dollars, down 4.80 percent compared to October, while compared to November of the previous year it increased by 8.79 percent.
The largest decline in non-oil imports in November occurred in the electrical machinery / equipment category amounting to 201.1 million US dollars or 10.04 percent. While the largest increase in imports was the beverage group of US $ 75.3 million or 470.63 percent.
The three largest suppliers of non-oil and gas imported goods during January-November 2018 were occupied by China with a value of 40.85 billion US dollars (28.08 percent), Japan 16.61 billion US dollars (11.41 percent), Thailand with 10, 09 billion US dollars or 6.49 percent. Non-oil and gas imports from ASEAN 20.08 percent while from the European Union 8.93 percent.
The import value of all categories of use of goods both consumption, raw / auxiliary materials, and capital goods during January-November 2018 increased compared to the same period of the previous year, respectively 23.72 percent, 21.44 percent, and 24.80 percent.
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