Indonesia Trade Balance Swings to Deficit in November

Indonesia posted a USD 426 million trade deficit in November of 2014, swinging from a surplus of USD 20 million in the preceding month and from a USD 789 million a year earlier. Year-on-year, exports and imports declined by 14.57 percent and 7.31 percent respectively.
Statistics Indonesia l Rida Husna l 1/2/2015 4:56:12 AM
In November, exports amounted to USD 13.62 billion. Sales of non-oil and gas products fell by 12.62 percent year-on-year and oil and gas exports dropped by 23.85 percent. Imports amounted to USD 14.04 billion with purchases of non-oil and gas products falling by 5.73 percent and of oil and gas declining by  11.83 percent.

On a monthly basis, exports fell by 11.29 percent while imports decreased by 8.39 percent. Oil exports fell 14.68 percent in November, while sales of non-oil and gas products declined  10.64 percent. By products, sales of animal or vegetarian fats and oils were down the most by 18.74 percent, followed by vehicles other than railway (-15.71 percent); rubber and rubber articles (-14.60 percent) and electrical machinery, sound recording, tv, etc (-13.61 percent). In contrast, outward shipment were higher for optical, photographic and medical instruments (+49.16 percent); mineral fuels and mineral oil products (+12.46 percent); footwear, gaiters and the like (+4.16 percent); cocoa and cocoa preparations (+1.65 percent) and iron and steel (+0.95 percent).

Outbond shipments to the country's major trading partners were mostly down except those to China. Exports to Australia fell the most by 46.89 percent, followed by India (-21.08 percent), the US (-11.65 percent), the European countries (-10.36 percent) and Taiwan (-2.39 percent). Sales to China recorded a 12.86 increase in the month.

Purchases of oil and gas in November fell 2.92 percent over a month earlier, while those of non-oil and gas  also declined 10.06 percent. Inbound shipments from major destinations were down except those to China and the European countries. Imports from India fell the most by 20.32 percent, followed by Australia (-18.79 percent), Japan (-18.63 percent), South Korea (-15.93 percent)and the ASEAN countries (-14.12 percent). Purchases from China and the European countries in the month increased by 4.44 percent and 1.48 percent respectively.

By category, imports of capital goods declined the most by 16.20 percent in November from a month earlier, followed by raw materials (-7.29 percent) and consumption goods (-0.17 percent).

Indonesia Trade Balance Swings to Deficit in November