Highlight of September’s Trade Balance
September’s trade balance posted the surplus of USD230 million. The trend in September’s trade was improving than August’ trade balance posting the deficit of USD940 million. On a cumulative basis, from January to September 2018, the trade deficit was USD 3.78 billion.
The improving trade balance was backed by the non oil and gas (non-migas) trade surplus inclining to USD1.30 billion and the oil and gas (migas) trade deficit declining to USD1.70 billion. The increment in the non-migas trade surplus was attributable to the decline in the non-migas imports of USD820 million (m-m), particularly imports of machinery and mechanic planes, electric instruments, and iron and steel made equipment.
Meanwhile, the shrinking migas trade deficit was attributable to the decline in migas imports of USD770 million (m-m), stemming from the decrease in crude and refined crude imports.
Download full report HERE.