TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

RI posts trade balance surplus amid steep decline in imports

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Sat, November 16 2019   /  01:53 am

Indonesia posted a surprise trade surplus in October, beating economists’ expectations of a deficit. Imports declined more than exports amid sluggish global and domestic economic growth, Statistics Indonesia (BPS) announced on Friday.With a US$161.3 million surplus in October, Indonesia’s trade balance reversed an earlier $163 million deficit in the previous month. From January to October of this year, Indonesia booked a $1.78 billion trade deficit, significantly lower than the $5.57 billion recorded over the same period last year.Exports declined for 12 consecutive months, with a 6.13 percent year-on-year (yoy) contraction in October to $14.93 billion. The manufacturing sector, which was responsible for three quarters of total exports last month, declined by 2.49 percent yoy to $11.34 billion. The sharpest drop in exports was recorded in the oil and gas sector, slumping 40.07 percen...