JAKARTA: Recent trade data shows that Indonesia booked a US $4.3 billion trade deficit with China in the first quarter. While it is slightly lower than $4.32 billion recorded in the same period last year, it is Indonesia’s biggest deficit with its trading partners.
“It is too large, we need to get it [the deficit] down,” Central Statistics Agency (BPS) head Suryamin said on Friday in Jakarta, adding that the drop in commodities exports to China has led to the enormous trade deficit.
Coal exports to China, he continued, dropped 28.4 percent in the first quarter. “Luckily we can find other markets such as India where we can shift the exports,” Suryamin said.
Meanwhile, in its trade with ASEAN countries, Indonesia registered a surplus of $117.7 million. The most profitable trade during that period in Southeast Asia was with Singapore with a surplus of $400 million.
On the opposite end, Thailand is the only country in Southeast Asia with which Indonesia experienced unfavorable trade, with a deficit worth $1.3 billion. “We still imported equipment and automotive products from Thailand, as well as from Japan,” he said.
As for European countries, Indonesia scored a surplus of $707.2 million. Germany was the only European country that had a deficit with Indonesia, at $92.7 million. Meanwhile, the most profitable trade was with Netherlands, with a surplus of $466.4 million.
“Our trade with the US and India is good, a surplus of $2 million and $1.42 million, respectively,” Suryamin said.
