• Breaking News

    Saturday, June 28, 2014

    Indonesia Expected to Post Trade Surplus of $50 Million

    Tobapos -- Indonesia is estimated to have recorded a trade surplus of US$50 million in May after it posted a trade deficit in April, Finance Minister Chatib Basri said.

    "The surplus will be small and will not exceed US$50 million," he said here on Friday.

    The country is expected to post a trade surplus in May owing to good export performance. The crude palm oil (CPO) price, which has returned to normal in the international market, will contribute to the trade surplus, he noted.

    "The exports particularly CPO exports will slightly increase after the CPO exports had dropped previously," he said.

    He added that the import of foodstuff will increase due to high demand ahead of the holy month of Ramadhan.

    "The imports remain high as we are entering the fasting month," he said.

    Earlier, the Central Statistics Agency (BPS) said the country had posted a trade deficit of US$1.96 billion in April 2014, with exports totaling US$14.29 billion and imports reaching US$16.29 billion.

    Overall, the country's balance of trade in the first four months of this year had recorded a deficit of US$894 million as exports reached US$58.5 billion and imports stood at US$59.4 billion. (ant/adm)

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