The Jakarta Post
Indonesia’s latest trade figures, which recorded a surplus in the first quarter of 2018, while welcome, nonetheless show a continued reliance on raw commodities.
The Central Statistics Agency (BPS) announced on Monday that in the first quarter of 2018 Indonesia booked a trade surplus of US$1.09 billion.
“Non-oil and gas exports stood at $2.02 billion in March,” BPS chief Suhariyanto told a monthly press briefing on Monday.
The good news came after the country had suffered a ballooning trade deficit in the first two months of 2018. In January, the country experienced a $670 million trade deficit, an unusual situation in the past three years, in which January has usually seen trade surpluses. The deficit was caused by a significant import surge of 26.44 percent year on year (yoy) to $15.13 billion and moderate export growth of 7.86 percent yoy to $14.46 billion...