REPUBLIKA.CO.ID, JAKARTA -- Indonesia's trade balance recorded a deficit of US$676.9 million in January 2018, the Central Statistics Agency (BPS) said. Indonesia's exports stood at US$14.46 billion, while its imports reached US$15.13 billion in January 2018, the agency noted.
"Exports in January 2018 fell 2.81 percent as compared to December 2017 but increased 7.66 percent as compared to January 2017," BPS Chief Suhariyanto said in a press conference here on Thursday.
He said non-oil/non-gas exports in January 2018 dropped 1.45 percent to US$13.17 billion as compared to December 2017 but rose 8.57 percent as compared to January 2017.
The shortfall in non-oil/non-gas exports was the result of the declining prices of several commodities including copra and kernel oil. However, the prices of coal and nickel went up. "On a yearly basis, our exports (in January 2018) still recorded an increase as compared to January 2017. However, our imports rose far higher," he said.
On the other hand, Indonesia's imports in January 2018 reached US$15.13 billion, up 0.26 percent as compared to December 2017 or 26.44 percent as compared to January 2017.
The increase in imports was fueled by the import of non-oil/non-gas goods particularly vehicles and spare parts.
According to BPS, Indonesia recorded a trade deficit of US$1.83 billion with China, US$211.4 million with Thailand, and US$178.2 million with Australia in January 2018.