"Trade balance in June 2020 has shown encouraging development. Both exports and imports have increased. Exports rose across all sectors, including agriculture, industry, and mining. It is expected to become a positive sign for the next months," Suhariyanto noted during a virtual press conference here on Wednesday.
In the first half of the year, trade balance recorded a surplus of $5.50 billion, swinging from a $1.93-billion gap during the corresponding period in 2019.
"Taking into account this position, we can say that our trade balance in June 2020 and during the January-June period is still encouraging," he pointed out.
Exports increased to $12.03 billion owing to higher sales of oil and gas products, touching $580 million, or rising 3.8 percent, from that in May, while non-oil and gas sales increased by 15.73 percent to reach $11.45 billion.
The rise in oil and gas exports was chiefly due to the 42.9-percent increase in the Indonesian Crude Price (ICP) to $36.6 per barrel in June.
The rise in non-oil and gas exports was contributed by the agriculture sector, with an 18.99-percent rise to reach $280 million; processing industry, 15.96-percent increase to $9.6 billion; and mining industry, 13.69-percent rise to $1.51 billion.