Data from Statistics Indonesia (BPS), released on Monday, showed that the June shortfall narrowed from the $1.61 billion deficit recorded in May.
Containers, cranes and ships are seen at Tanjung Priok Port in North Jakarta in this undated photo.. (Shutterstock/Creativa Images)
Indonesia’s trade balance stayed in the red in June, recording a US$450 million deficit as surging oil and gas imports overshadowed export growth and a widening surplus in non-oil and gas trading.Data from Statistics Indonesia (BPS), released on Monday, showed that the June shortfall narrowed from the $1.61 billion deficit recorded in May. The improvement was driven by a stronger non-oil and gas performance, though the country remained weighed down by its persistent reliance on fossil fuel imports.
“The June deficit was primarily due to a deficit in oil and gas commodities,” Ateng Hartono, BPS deputy for distribution and services statistics, said in an online broadcast on Monday.
The oil and gas sector posted a deficit of $3.49 billion in June, an improvement from the $3.76 billion gap seen a month earlier. Crude oil and refined petroleum products were the main contributors to the shortfall.
