Jakarta: Coordinating Minister for Economic Affair Darmin Nasution has said that Indonesia may still post a trade deifict in the end of the year.
"We need to reduce our oil and gas imports. Can we do it in a year?" Darmin told reporters on Friday, January 11, 2018.
"If we still import a lot of oil and gas, we will still post a trade deficit," Darmin added.
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According to the Central Statistics Agecny (BPS), Indonesia posted a trade deficit of US$2.05 billion in November. Cumulatively, the country recorded a trade deficit of USD7.52 billion from January until November.
According to the report, the country's export value stood at USD14.83 billion in November. The number dropped by 6.69 percent compared to the previous month.
On the other hand, the country's import value stood at USD16.88 billion in November. The number dropped by 4.47 percent compared to the previous month.