TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati said the trade balance deficit in April 2019 was caused by weak exports performances.
"Although imports were contracted, exports declined more," she said yesterday.
The Central Statistics Agency (BPS) announced that Indonesia's trade balance in April 2019 was at a deficit of US$2.5 billion. It was attributable to the deficits in the oil and gas and non-oil and gas sectors, amounting to US$1.49 billion and US$1.01 billion, respectively.
BPS chief Suhariyanto said that April's monthly export value fell 10.8 percent to US$12.6 billion. Meanwhile, imports rose 12.25 percent to US$15.10 billion.
The biggest increase in imports came from the oil and gas sector, with 46.99 percent.
Responding to the statistics, Sri Mulyani said that the volume of oil and gas imports could not go down without significant reasons.
"It is impossible for energy demand to go down; it would definitely increase," she said.
Indonesia, Sri Mulyani added, will continue to maintain growth in the manufacturing sector, in a bid to maintain a 5-percent economic growth.