Indonesia's trade balance recorded a deficit of US $ 1.82 billion in October 2018

MACROECONOMICS - JAKARTA. The Central Statistics Agency (BPS) recorded Indonesia's trade balance suffered a deficit of US $ 1.82 billion in October 2018.

This deficit figure is far different from the expectations of economists who estimate the trade balance will record a deficit of around US$ 300 - 600 million last month.

Head of BPS Suhariyanto said the oil and gas balance deficit contributed to the trade balance deficit of US$ 1.42 billion. Meanwhile, the non-oil and gas balance deficit was US$ 393.2 million.

"In the future, we hope that there are policies that encourage current transactions, such as policies related to service balance," Suhariyanto said on Thursday (11/15).

BPS recorded that export value reached US $ 15.80 billion in October, up 5.87% compared to September and up 3.59% year on year (yoy).

Meanwhile, the import level was recorded at US$ 17.62 billion, up 20.60% compared to the previous month and up 23.66% yoy.

Thus, Indonesia's cumulative trade balance deficit from January to October 2018 was US$ 5.51 billion. (Translator: Barratut Taqiyyah Rafie)