TEMPO.CO, Jakarta - The Central Bureau of Statistics (BPS) on Monday, June 25 will release data on Indonesia's trade performances throughout May. The BPS will hold a press conference to announce the development of Indonesia's exports and imports during that month, on 10:30 this morning, Jakarta time.
The Institute for Development of Economics and Finance (Indef) economist Bhima Yudhistira estimated that May's trade balance will show a deficit of US$1.1 billion.
He said that ahead of the Idul Fitri (Eid Day), the demand for consumer goods and raw materials imports was quite high. Oil and gas deficit also has the potential to rise, as fuel demand rose.
In terms of exports, CPO prices were corrected, along with a number of other commodities. And so, the value of exports on an annual basis is estimated to rise by only six to seven percent.
"The impact of trade war has hit the export of our leading products such as CPO and rubber. Some partner countries, such as the EU and India, are tightening trade protection," Bhima said.
In April, Indonesia's trade balance experienced a deficit of US$1.63 billion, driven by rising imports of consumer goods and oil and gas. BPS chief Suhariyanto said the deficit was caused by a sharp increase in imports.
Thus, Indonesia's trade balance for January to April recorded a deficit of US$1.31 billion; with the oil and gas sector suffering a deficit of US$3.8 billion.
Imports throughout April 2018 reached US$16.09 billion, up 11.38 percent from March's position. Meanwhile, exports were down 7.19 percent to US$14.47 billion compared to the previous month.
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