Trade Balance Swings Back into a Surplus in August; Exports Down But Imports Fell Deeper
While many are relieved to see a trade surplus for Indonesia in August 2019, the picture does not look too positive when we delve a bit deeper in the data, and shows that global conditions are far from positive amid contracting international trade and subdued global economic growth (with ongoing tariff tensions between the United States and China being a key issue).
According to the latest data from Statistics Indonesia (BPS), the trade balance swung into a modest USD $85.1 million surplus in August 2019; welcome news after the USD $64.3 million trade deficit that was posted by the country in the preceding month.
BPS Head Suhariyanto said at a press conference on 16 September 2019 that the country’s trade balance was affected by a sharp drop in both oil & gas and non-oil & gas imports in August.
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