The Jakarta Post
Indonesia booked a trade deficit of US$1.52 billion in May as oil prices continued to soar, although Indonesian exports also increased, the Central Statistics Agency (BPS) announced on Monday.
The deficit was slightly lower than the figure in April, which was $1.63 billion. Meanwhile, Indonesia booked a trade surplus of $561.4 million in May 2017.
BPS head Suhariyanto said in a press conference that exports were recorded at $16.12 billion, up 10.90 percent from the figure in April, a 12.47 percent year-on-year (yoy) increase.
The export increase was considered significant amid trade tensions between the United States and China.
However, imports had also increased to $17.64 billion in May, 28.12 percent yoy, particularly due to the high inflow of crude oil and its derivative products.
“The increase in imports was also triggered by rising demand in consumables,” said Suhariyanto, adding that it had been caused by an increase in spending during Ramadhan. (bbn)