Indonesia recorded trade deficit of US$3.2 billion last year, dropped by 63% from 2018, mainly because of lower deficit in oil and gas, and 54% growth in non oil and gas surplus. Not bad. Import of oil and gas fell 26.7%, attributable to lower average prices and volume. Deficit in refined products fell 33% to US$11.74 billion, thanks to substantial decline in import volume.To subscribe please click here