This more-or-less continued into March 2020 although China started to come back online. Based on data from Statistics Indonesia (or BPS), Indonesia booked a USD $743.4 million trade surplus in March 2020. As the table below shows, Indonesia’s oil & gas deficit deteriorated sharply, while the non-oil & gas surplus improved significantly. However, considering the contribution of oil & gas trade to the total is much smaller compared to non-oil & gas, Indonesia managed to post an overall surplus in March.

Indonesia’s oil & gas deficit deteriorated because of the collapse of global oil prices after demand for crude oil fell amid the COVID-19 crisis, while a price war emerged between two of the world's major oil producers: Saudi Arabia and Russia. Crude oil even went below zero as producers ran out of places to store their excess barrels of crude.

[...]

Read the full article in our April 2020 update. To purchase the report, please send an email to info@indonesia-investments.com or a WA text message to +62(0)8788.410.6944 for further information.

To view all our reports, click here

Price per edition:

• IDR 150,000
• USD $10
• EUR €10
• SGD S$15


Poll Indonesia Investments:

According to you at what pace will the Indonesian economy grow in 2020?

Voting possible:  -

Your vote

Bahas