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Govt Relies on Automotive, Mining Trade to Narrow Deficit

3 July 2014 14:08 WIB

TEMPO.CO, Jakarta - Trade Minister Muhammad Lutfi said that mining and automotive sectors are Indonesia's main hope to repair the trade balance position until the end of this year.

The two sectors are expected to boost non-oil and gas trade, which is expected to reach US$190 billion. "Hopefully by the end of this year there is a surplus," Lutfi said at his office yesterday.

In the mining sector, there is potential for exports increase in the second half once there are delivery contracts for copper and concentrates. In the near future, said Lutfi, the negotiation process for copper and gold export licenses will be completed. According to his calculations, the value of gold and copper concentrates in major mines is close to US$ 1 billion.

From the automotive sector, the government higher exports of cheap green cars to a number of Asian countries, following the increased production capacity of some manufacturers such as Toyota, Daihatsu and Honda. This year, the total value of vehicle export is expected to reach US$4.5 billion. The government targets to double the value by 2017 to US$9 billion.

AYU PRIMA SANDI | AYU WANDARI | KHAIRUL ANAM




Indonesia's 2020 Trade Balance with Egypt at US$1.17bn Surplus

33 hari lalu

Indonesia's 2020 Trade Balance with Egypt at US$1.17bn Surplus

The Trade Ministry recorded Indonesia's trade balance with Egypt stood at a surplus of US$1.17 billion (Rp18.22 trillion) as of December 2023.


Indonesia Sees Consecutive Trade Balance Surpluses Since May 2020

18 April 2023

Indonesia Sees Consecutive Trade Balance Surpluses Since May 2020

Bank Indonesia (BI) said that the Indonesia's trade balance has recorded surpluses non-stop since May 2020.


Indonesia's Trade Balance Logs USD54 Billion Surplus: Statistics Indonesia

6 Februari 2023

Indonesia's Trade Balance Logs USD54 Billion Surplus: Statistics Indonesia

Indonesia's trade balance in 2022 logged a surplus both cumulatively and during the fourth quarter of last year, says Statistics Indonesia.


2022 Trade Balance Logs USD54 Bln Surplus, Says Bank Indonesia

17 Januari 2023

2022 Trade Balance Logs USD54 Bln Surplus, Says Bank Indonesia

Indonesia's trade balance recorded yet another surplus in December 2022 by logging US$ 3.89 billion.


Rupiah Exchange Rate Surges Over Expected Trade Balance Surplus

16 Januari 2023

Rupiah Exchange Rate Surges Over Expected Trade Balance Surplus

The Rupiah exchange rate transacted between banks in Jakarta surged on Monday morning which is in line with market expectations.


BPS: Inflation Falls to 5.42% YoY in November

1 Desember 2022

BPS: Inflation Falls to 5.42% YoY in November

Indonesia's inflation eased in November, Statistics Indonesia (BPS) said on Thursday, Dec. 1.


Indonesia's Trade Balance on Surplus since May: Central Bank

16 September 2022

Indonesia's Trade Balance on Surplus since May: Central Bank

Bank Indonesia said that Indonesia's trade balance in August 2022 was a surplus of US$5.76 billion.


Statistics Indonesia Records 25th Consecutive Monthly Surplus

15 Juni 2022

Statistics Indonesia Records 25th Consecutive Monthly Surplus

Statistics Indonesia (BPS) recorded that Indonesia recorded a trade surplus of US$2.89 billion in May 2022.


Indonesia Trade Balance at US$3.3bn Surplus in February: BPS

15 Maret 2022

Indonesia Trade Balance at US$3.3bn Surplus in February: BPS

The Indonesian central statistics agency, BPS, announces a surplus of US$3.83 billion for February's trade.


Surplus Trend in Indonesia Trade Balance Predicted to Continue

12 April 2021

Surplus Trend in Indonesia Trade Balance Predicted to Continue

The government predicts that Indonesia's latest trade balance will see the surplus trend to continue in the next months.