JAKARTA, June 25 (JDN.id) – Indonesia posts a $1.74 billion in trade surplus in June, amid recovery from both oil and gas as well as non-oil and gas exports, the Central Statistics Bureau, known as BPS, reported on Monday.
BPS said June’s surplus helped reduce the country’s trade deficit in the first six months of this year to $1.02 billion. Previously, in January-May period deficit stood at $2.83 billion.
Cumulatively, Indonesia’s January-June export was recorded at $88.02 billion, or growing 10.03 percent from the same period last year. Higher revenue from gas exports contributed significantly to the figure, amid higher oil prices.
Meanwhile, Indonesia spent $89.04 billion on importing various goods and services in the first half of this year. This figure incerased 23.1 percent from the corresponding period last year. BPS data showed that raw materials and capital goods saw a significant increase.
In June alone, exports stood at 13 billion, down by 19.8 percent while imports stood at $11.26 billion, or down 36.27 percent.
“Trade ministry to focus on efforts to boost exports and contain imports, especially for goods that can be substituted by products from domestic industry,” Kasan, the head of the trade ministry’s agency for trade analysis and development said.
BPS’s Monday data also showed Indonesia saw a deficit from oil and gas trade has decreased to $393.9 million in June alone from $1.21 billion in the previous month.
Meanwhile, the country posted a $2.14 billion in surplus from its non-oil-and-gas trade, a swing from a $235.8 million deficit.