GOVT Succesfully Controlled Fuel Imports in May

Jakarta, June 17 (Antara) -- The government managed to curb fuel imports in May, causing the trade balance to record a surplus of US$955 million, Trade Minister Rachmat Gobel said. "As we could curb the demand for imported oils in May, there was an improvement in the surplus of our balance of trade," he affirmed in a press statement released on Wednesday. The trade surplus in May increased significantly as compared to the US$477.4 million recorded in April, Gobel added. Total imports in May reached US$11.6 billion, a 21.4 percent drop from that in the same month last year, he pointed out. The decline in imports was fueled by decreasing demand for imported crude oil and oil products, which plummeted 54.1 percent and 40.6 percent, respectively, the minister stated. Cumulatively, the balance of trade from January to May recorded a surplus of US$3.8 billion. This was fueled by a trade surplus in the non-oil/gas sector, which reached US$5.7 billion. However, the balance of trade in the oil and gas sector suffered a deficit of US$2 billion. The minister further noted that the growth of trade surplus in the year till May 31 was triggered by the surplus recorded in the trade of non-oil/gas products and the increasingly smaller deficit of oil and gas trade.