Highlights of May 2019 Trade Balance
May’s trade balance marked positive performance as it posted surpluses of USD0.21 billion, better than April’s deficits of USD2.28 billion. May’s figure was the third surpluses in 2019. Indonesia’s trade balance from January to May posted the accumulative deficits of USD2.14 billion, better than USD2.86 billion in the same periods of 2018.
May’s surpluses were attributable to the rising oil& gas and nonoil& gas exports amid the sharp declines in oil gas and nonoil & gas imports. The nonoil & gas trade posted surpluses of USD1.19 billion, better than deficits of USD0.79 billion in April 2019. Meanwhile, the oil& gas trade posted deficits of USD0.98 billion, declining from deficits of USD1.49 billion in April 2019.
Notching Up Exports
Nonoil & gas exports rose by 10.16% m-m to USD13.63 billion and declined by 6.54% y-y. The y-y declines occurred since November 2018 amid low commodities prices, while oil& gas exports surged by 50.19% m-m to USD1.11 billion, boosted by the rising gas exports, declining by 31.77% y-y on the back of low crude prices.
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