Bisnis.com JAKARTA - The government estimates a trade deficit of between US$200 million and US$400 million for June due to increased imports heading into the Lebaran (Eid) holiday.
Finance Minister M. Chati Basri said that this deficit is part of an annual cycle to meet domestic O&G and non-O&G needs heading into Lebaran. On the other hand, manufacturing exports are not yet able to compensate.
As an illustration, June of 2013 saw a trade deficit of US$286 million. "Once again, this is temporary. People like to import during Lebaran. O&G needs are rising. People are traveling all around, and the demand for petroleum rises. Non-O&G demand also rises," he said on Friday (7/25/2014).
Previously, Bank Indonesia predicted a trade deficit of US$300 million for June and a slim surplus of US$70 million for the previous month.
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