Thursday, 02 August, 2012 | 12:14 WIB
Indonesia Suffering Largest Trade Deficit in 5 Years
TEMPO Interactive, Jakarta:Central Bureau of Statistics (BPS) notes that Indonesia's trade balance at the end of June 2012 recorded a deficit of US$1.32 billion. It continues to drop due to the lacklustre export performance. "The deficit is the biggest since the last five years," said BPS Chief Suryamin at BPS offices, Wednesday, August 1, 2012.
Last May the deficit was recorded at US$485 million. Suryamin says that the trade balance for imports until June was US$15.36 billion or a decline of 8.70 percent from May.
In June 2012 the value of imports was US$16.69 billion, down 2.05 percent from over May 2012ís US$17.04 billion in. However, compared to June 2011, it actually rose 10.71 percent.
The decline in exports in June 2012 was due to the fall of non-oil exports by 4.04 percent, from US$13.1 million to US$12.5 million. A 25.12-percent decline also occurred in the oil and gas sector, from US$3.7 million to US$2.7 million.
In June 2012 non-oil exports to most of the major destination countries, namely China, Japan, Australia, India, Taiwan, the United States, Britain, France, and Thailand, decreased. While exports to Singapore, Malaysia, South Korea, and Germany increased.
Director of Distribution Statistics, BPS, Satwiko Darmesto blames the widening trade deficits on deficits to major countries such as Japan, America and South Korea. "Like coal, for example. The volume of its exports continue to decline," he said.
Satwiko also says the trade deficit is due to the crisis in Europe. If Europe does not get out of it soon, Satwiko suggests, there is a possibility that the value of exports will continue to weaken. "It's going to have an impact," he said. ANGGA SUKMA WIJAYA