Oil and Gas Imports Dropped, Trade Deficit Shrunk

By Editorial Team 16/01/2020
Summary

Indonesia’s oil and natural gas trade deficit shrunk last year. Statistics Indonesia’s data, released on Wednesday (1/15), revealed that the oil and gas trade deficit dropped from US$ 12.69 billion in 2018 to US$ 9.34 billion in 2019. The oil and gas imports also decreased from US$ 29.86 billion in 2018 to US$ 21.88 billion in 2019 or down 26.7 percent year-on-year. As a result, Indonesia managed to slash up to US$ 3.35 billion of trade deficit.

However, the massive oil and gas trade deficit still cost Indonesia a US$ 3.19 billion of the trade deficit in 2019. Fortunately, Indonesia’s non-oil-and-gas trade successfully recorded a US$ 6.15 billion of surplus. Consequently, the trade balance in 2019 was better than the deficit in 2018 at US$ 8.7 billion.

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