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Indonesia records highest-ever trade deficit

Indonesia recorded a trade deficit of 8.57 billion USD in 2018, the highest-ever level, according the country’s Central Statistics Agency (BPS).
Indonesia records highest-ever trade deficit ảnh 1A corner of Jakarta (Photo: Reuters/VNA)

Hanoi (VNA) – Indonesia recorded atrade deficit of 8.57 billion USD in 2018, the highest-ever level, accordingthe country’s Central Statistics Agency (BPS).

In 2017, the Southeast Asian country ran a tradesurplus of 11.84 billion USD, the BPS said on January 15.

Indonesia’s export turnover went up from 168.82billion USD in 2017 to 180.06 billion USD in 2018. However, the import turnover also increased from156.99 billion USD to 188.63 billion USD.

Head of the BPS Kecuk Suhariyanto said the causeof the deficit in 2018 was mostly due to the oil and gas deficit of 12.4billion USD. Meanwhile, other fields saw a surplus of 3.84 billion USD, heunveiled.

The Indonesian Government has been applyingmeasures to restrain imports such as imposing higher import duties on more than1,000 items, adopting regulations on the compulsory use of biodiesel so as toreduce oil imports, and delaying some infrastructure construction projects.–VNA
VNA
#trade deficit#Central Statistics Agency (BPS)#Southeast Asia#trade surplus#export#import#Vietnamplus#Vietnam News Agency
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