Bank Indonesia (BI) predicts that the nation's trade balance in May will record a surplus after suffering a deficit of US$ 1
ank Indonesia (BI) predicts that the nation's trade balance in May will recorda surplus after suffering a deficit of US$ 1.96 billion in April.
"I am optimistic that our trade balance will show positive growth in Mayand this is a good situation for us," BI Governor Agus DWMartowardojo said in Jakarta on Friday as quoted by kompas.com.
He acknowledged that the deficit in April had shocked almost everyone. However,the deficit was due to the country's exports not performing well because oflower demand for palm oil and coal.
"We believe that we will record a surplus for May even though the pressureon palm oil and coal remains," he added.
According to the Central Statistics Agency (BPS), April's deficit was caused bya deficit in both the oil and gas and non-oil and gas sectors amounting to $1.07billion and $0.89 billion, respectively.
In April the country's exports amounted to $14.29 billion, a 5.92 percentdecline from March 2014. (nfo)
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