Is it serious? Trade Balance Deficit 7.5 Billion US Dollars
Pojok Pos. Economist Faisal Basri said that Indonesia's trade balance deficit of US $ 7.5 billion as of November 2018 is a serious matter.
"The US $ 7.5 billion deficit is not something simple. If we look at the monthly average, in 8 months in 2018 there is always a deficit," he said at a business competition seminar, Jakarta, Wednesday (12/19/2018).
"So this is seriously true for 8 of our 11 months in the trade deficit," he continued.
According to Faisal, the trade balance deficit that reached US $ 7.5 billion was a new history in the long journey of Indonesia's trade balance.
"It was never Indonesia after independence that the trade deficit of goods reached 7.5 billion US dollars, never. So this is a new history since 1945," he said.
One of the biggest contributors to the trade balance deficit is oil and gas imports that are swollen. He also considered this due to incomplete reform policies.
"The reformation in the era of Pak Jokowi only lasted for the first year, after that everything was forgotten for oil affairs only. Gratitude for gas is still a surplus, so the oil and gas deficit is 12.2 billion US dollars. A big figure is of course," he said.
Previously, Coordinating Minister for the Economy Darmin Nasution said that the main cause of the November 2018 trade balance plummet was due to external factors.
He stressed that the trade balance deficit of US $ 2.05 billion in November 2018 was not due to Indonesia's weak economic structure.
When viewed more deeply, he said, Indonesian exports to China and the US did indeed decline in November 2018. This was due to the influence of trade wars which affected export demand from Indonesia.
But the biggest decline in exports did not occur in the two main Indonesian trading partner countries. In fact, the decline in exports was greater in India.
Darmin said the decline in exports to India was due to the high import duty policy for Indonesian CPO.
"The US $ 7.5 billion deficit is not something simple. If we look at the monthly average, in 8 months in 2018 there is always a deficit," he said at a business competition seminar, Jakarta, Wednesday (12/19/2018).
"So this is seriously true for 8 of our 11 months in the trade deficit," he continued.
According to Faisal, the trade balance deficit that reached US $ 7.5 billion was a new history in the long journey of Indonesia's trade balance.
"It was never Indonesia after independence that the trade deficit of goods reached 7.5 billion US dollars, never. So this is a new history since 1945," he said.
One of the biggest contributors to the trade balance deficit is oil and gas imports that are swollen. He also considered this due to incomplete reform policies.
"The reformation in the era of Pak Jokowi only lasted for the first year, after that everything was forgotten for oil affairs only. Gratitude for gas is still a surplus, so the oil and gas deficit is 12.2 billion US dollars. A big figure is of course," he said.
Previously, Coordinating Minister for the Economy Darmin Nasution said that the main cause of the November 2018 trade balance plummet was due to external factors.
He stressed that the trade balance deficit of US $ 2.05 billion in November 2018 was not due to Indonesia's weak economic structure.
When viewed more deeply, he said, Indonesian exports to China and the US did indeed decline in November 2018. This was due to the influence of trade wars which affected export demand from Indonesia.
But the biggest decline in exports did not occur in the two main Indonesian trading partner countries. In fact, the decline in exports was greater in India.
Darmin said the decline in exports to India was due to the high import duty policy for Indonesian CPO.
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