Beyond predictions, the February 2019 trade balance was a surplus of US $ 330 million

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This surplus was beyond the estimate of a number of economists who predicted the trade balance last month to experience a deficit, but shrank from the previous month.

"Finally, after four consecutive deficits, thank God, we have a surplus," said Head of BPS Suhariyanto in his office on Friday (3/15).

JAKARTA. The Central Statistics Agency (BPS) recorded a February 2019 trade balance recorded a surplus of US $ 0.33 billion. The surplus was due to the export value of US $ 12.53 billion. While the import value was recorded lower by US $ 12.20 billion. The export performance fell 10.03% compared to January 2019, also down 11.33% year on year (yoy). Both oil and gas and non-oil and gas exports declined, each by 11.55% and 9.8% compared to the previous month.

Suhariyanto said Indonesia still faces challenges in boosting exports. Among other things, the decline in the global economy including China and the United States (US) and fluctuations in raw commodity prices.

"This is a challenge to boost exports because there is an economic slowdown in the main destination countries and commodity prices are unpredictable, and there are influences on the number of days," he said.

In terms of imports, the import value fell sharply by 18.61% compared to January 2019 and fell by 14.02% yoy. Both oil and gas and non-oil and gas imports declined by 6.6% and 20.1% compared to the previous month.

Imports have decreased at the most with electrical machinery and equipment, organic chemicals, iron and steel objects, and vehicles and their parts.

Thus, cumulatively from January to February 2019 exports and imports were recorded at US $ 26.46 billion billion and US $ 27.19 billion respectively. Thus, the cumulative trade balance deficit was recorded at US $ 0.73 billion.

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