US$46,12mn Trade Deficit Projection for November
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16 December 2019 13:30 WIB
TEMPO.CO, Jakarta - The November 2019 trade balance has the potential to experience a slight deficit of US$46.12 million. The decline was caused by an increase in the imports of consumer goods and the slowdown in trade activities towards the end of the year.
Danareksa Research Institute's chief researcher Moekti P. Soejarachmoen said export growth was only -0.7 percent (yoy), while import growth was -12.1 percent (yoy).
He noted that exports in November 2019 would be US$14.80 billion while imports would be recorded at US$14.85 billion.
Moekti said that a deficit is possible, given the year-end period tends to see a jump in consumer goods imports, along with rising demand.
However, in his report Moekti noted an improvement in the price a certain export commodity; crude palm oil (CPO), which he said could boost export values.
"At present, a number of Indonesia's mainstay export commodities are experiencing price climbs," Moekti said, Sunday, 15th of December 2019.
He said that the average price increase of Indonesian export goods was 6.9 percent monthly in October 2019. If this condition continues until 2020, Moekti said, Indonesia's export performance will improve.
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