Jakarta: Indonesia recorded a trade surplus of USD0.2 billion in June 2019, the Central Statistics Agency (BPS) announced on Monday.
"The trade balance recorded a surplus of USD0.2 billion in June 2019," BPS chairman Suhariyanto told a press conference this morning.
According to BPS, the oil and gas sector still recorded a trade deficit of USD966.8 million in June 2019. In the meantime, the non-oil and gas sector managed to record a trade surplus of 1.16 billion last month.
Cumulatively, the oil and gas sector booked a trade deficit of USD4.78 billion in the first semester of 2019. Meanwhile, the non-oil and gas sector posted a trade surplus of USD2.85 billion last semester.
"The trend has been improving in the past few months," the BPS leader noted.
According to a report from Bank Indonesia (BI), a general softening of national economic growth has occurred during the second quarter of 2019 as a corollary of declining export performance.
The recent escalation of international trade tensions has undermined export performance in Indonesia due to restrained global demand and lower commodity prices despite relative improvements for a number of commodities, including chemicals, iron and steel, coal as well as vegetable oil.
Non-building investment has thus far failed to increase significantly as a consequence of flagging exports notwithstanding positive building investment growth. Meanwhile, consumption is expected to pick up on the back of maintained public purchasing power and consumer confidence. Limited domestic demand gains have fed through to lower imports. Moving forward, efforts to stimulate domestic demand shall be increased in order to mitigate the adverse impact of global economic moderation stemming from international trade tensions.