The Balance Sheet of Trade Declines, The Government Prepares a New Strategy

Liputan Digital. Coordinating Minister for the Economy Darmin Nasution said the government would immediately prepare new policies to encourage exports.

This follows Indonesia's trade balance deficit which reached 2.05 billion dollars in November 2018, or the highest in 2018.

"We are immediately assembling with other ministries, especially with the Ministry of Industry," he said at the Office of the Coordinating Minister for Economic Affairs on Monday (12/17/2018) night.

When asked further about the new strategy to boost exports, Darmin was reluctant to disclose in more detail the government's plan. Darmin is also reluctant to promise the deficit will improve next month.

Even so Darmin acknowledged that the cause of the trade balance deficit that occurred in November 2018 due to falling exports, mainly exports of jewelry and gems.
Previously, Indonesia's trade balance had to experience a deficit in November 2018. After a deficit of 1.77 billion dollars in October, this time the deficit reached 2.05 billion US dollars.

When compared to November 2017, the RI trade balance deficit in November 2018 soared. Because the trade balance in November 2017 was actually a surplus of 221 billion US dollars.

In terms of exports, the value is 14.8 billion dollars with details of non-oil exports of 13.4 billion US dollars and oil and gas 1.37 billion US dollars. The value of this export fell 3.28 percent compared to November 2017. While in terms of imports, it actually jumped 11.68 percent. November's total imports were 16.87 billion US dollars, with details of non-oil exports of 14 billion US dollars and hopefully US $ 2.83 billion.

In November 2017, Indonesia's imports were only 15.11 billion US dollars with a composition of 12.9 billion US dollars in non-oil and gas imports and 2.20 billion US dollars in oil and gas imports.

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