Hanoi (VNA) – Indonesia recorded atrade deficit of 8.57 billion USD in 2018, the highest-ever level, accordingthe country’s Central Statistics Agency (BPS).
In 2017, the Southeast Asian country ran a tradesurplus of 11.84 billion USD, the BPS said on January 15.
Indonesia’s export turnover went up from 168.82billion USD in 2017 to 180.06 billion USD in 2018. However, the import turnover also increased from156.99 billion USD to 188.63 billion USD.
Head of the BPS Kecuk Suhariyanto said the causeof the deficit in 2018 was mostly due to the oil and gas deficit of 12.4billion USD. Meanwhile, other fields saw a surplus of 3.84 billion USD, heunveiled.
The Indonesian Government has been applyingmeasures to restrain imports such as imposing higher import duties on more than1,000 items, adopting regulations on the compulsory use of biodiesel so as toreduce oil imports, and delaying some infrastructure construction projects.–VNA
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The Indonesian Ministry of Foreign Affairs held an international press conference in Jakarta on January 9 to review its work in the past time and announce diplomatic priorities for 2019.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
A corner of Jakarta (Photo: Reuters/VNA)
