JAKARTA. Bank Indonesia (BI) predicted that the country would still chalk up surplus in its international trade in the next several months.
The surplus will result in the country's current account deficit to narrow from the present level of 2,1% of the country's gross domestic product (GDP), Executive Director of Communication Department of the central bank Tirta Segara said here on Monday.
A surplus of US$ 670 million was recorded in the country's trade balance in April, up from US$ 510 million in the previous month.
The surplus was attributable to growing exports of several commodities including edible oil and fat,footwear, motor vehicles and machinery and shrinking imports. Exports of commodities other than oil and gas also declined in April from March but a sharpest fall was recorded in imports.
"Imports of non-oil/gas commodities dropped 3,4% month to month and exports of the commodities fell only 0,1%," Tirta said.
As a result trade in non-oil/gas commodities favored the country with a surplus of US$ 1,14 billion more than offsetting a deficit of US$ 500 million in oil and gas trade in April, he said.
Deficit in the oil and gas trade was attributable to 28,4% fall in exports in April month to month . Oil and gas imports also declined but the decline was 12,3% or lower than exports. "In the coming months the country's trade balance is expected to continue to have a surplus ," Tirta said.
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