Indonesia suffered a trade deficit of over 2.4 billion USD with China in January, up 32% from the same period last year, according to the Central Bureau of Statistics (BPS).

Jakarta, Indonesia. (Source: FIM)

Suhariyanto, head of the BPS, attributed the deficit to the slowdown in China's economic growth that affected demand for raw materials and some Indonesian exports to China.

The rate of non-oil and gas products in Indonesia’s exports to China was reduced to 13.52% (1.71 billion USD) in the first month of 2019, compared to 14.51% (1.92 billion USD) posted in January last year.

Besides, Indonesia’s oil export to China decreased by 4.36% to 184.6 million USD in the reviewed month.

Also in January, Indonesia’s trade balances with Thailand and Australia also posted a deficit at 261 million USD and 208 million USD, respectively.

However, Indonesia had a surplus with the US (805 million USD), India (650 million USD) and the Netherlands (214 million USD).

(Source: VNA)