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The Ways of Ministry of Trade to Improve the Trade Balance Deficit



The Ways of Ministry of Trade to Improve the Trade Balance Deficit

InfoSAWIT, JAKARTA – Ministry of Trade Republic of Indonesia has prepared some ways to improve the trade balance deficit. It would be done by increasing the exports to the non – traditional countries and decreasing the trade barrier to the export countries. In imports, Ministry of Trade is controlling the import consumption goods. Ministry of Trade is in cooperation with Ministry of Industry, and Ministry of Treasury to discuss the Income Tax to the imports goods which have the substitutions in this country.

The high import demands increased more than the exports and this made the trade balance in July 2018 deficit reaching US$ 2,03 billion.

In the official statement to InfoSAWIT, the deficit derived from the oil and gas trade reaching US$ 1,19 billion and non-oil and gas reaching US$ 842,2 juta. “The high deficit of trade balance in July 2018 made the deficit trade in January–July 2018 reaching US$ 3,09 billion,” Ministry of Trade, Enggartiasto Lukita noted. (T2)

 


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