Business News
E-commerce responsible for worsening trade deficit
E-commerce it has contributed significantly to the country’s state revenue, on the other hand, it has contributed to the country’s trade deficit. The Finance Ministry’s Customs and Excise Directorate General recorded that the contribution of import duties from e-commerce products to state revenue was recorded at Rp 1.19 trillion ($4.85…
Sea toll program works in reducing price disparity
Jakarta (ANTARA News) - The sea toll program is crucial for Indonesia, which is one of the world`s largest maritime countries, with some 5.8 million square kilometers of sea territory, while its land territory covers only 1.9 million square kilometers. Moreover, the largest archipelagic nation in the world has some…
Social assistance boosts household purchasing power
Statistics Indonesia has said an increase in social assistance from the government for low income families last year helped boost people's purchasing power, the main aspect in gross domestic product (GDP) growth. “It means that government cash transfers to low income households helped them buy or consume [goods],” BPS deputy…
Current account deficit recorded at 2.98 percent of GDP in 2018
Bank Indonesia has announced that the current account deficit increased to US$31.1 billion, 2.98 percent of gross domestic product (GDP), in 2018 from the previous year, which stood at $17.29 billion, 1.7 percent of GDP.“The current account deficit was still within safe limits, amounting to $31.1 billion or 2.98 percent…
