Based on data at the Central Bureau of Statistics (BPS) Indonesia’s trade balance in the period of January-September 2018 had a deficit of US$ 3.78 billion or around Rp56.7 trillion. Higher increase in imports than in exports caused the trade balance deficit in the first nine months of this year. The largest deficit was recorded in July at US$2 billion. In 2017, the country’s foreign trade was favored with a surplus after deficit recorded in a number of years earlier. The trade deficit was attributable mainly to widening deficit in oil and gas trade amid risisng oil prices in 2018. Meanwhile Indonesia’s dependence on imports for oil fuel was higher on shrinking domestic production and rising consumption. In addition to imports of oil and gas, imports of non-oil/gas commodities in 2018 grew stronger than increase in exports of non oil/gas. In 2017 until September 2017 imports of oil and gas were valued at US$95 billion rising strongly in the same period in 2018 to US$ 116 billion or a 22.1% increase. Meanwhile exports in the same period rose only 9.3% from US$ 111.9 billion in the January- September period in 2017 to US$ 122.3 billion in the same period in 2018.

FURNITURE INDUSTRY :

OPPORTUNITY OF INDONESIA’S FURNITURE INDUSTRY AMID CHINA-U.S. TRADE WAR

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