Indonesia Trade Surplus Largest In 5-1/2 Years In June
Indonesia trade surplus rose to 1.63 USD billion in June of 2017 from 1.08 USD billion a year earlier and above market estimates of a 0.82 USD billion surplus. It was the largest trade surplus since November 2011, as exports unexpectedly fell 11.82 percent from a year earlier to 11.65 USD billion and imports contracted 17.21 percent to 10.01 USD billion.
7/17/2017 11:36:57 AM
In June, exports dropped 11.82 percent from a year earlier to 11.65 USD billion, as sales of non-oil and gas products fell 13.85 percent while those of oil and gas rose 8.74 percent.
Compared to the previous month, exports went down 18.82 percent, as non-oil and gas products decreased by 20.66 percent while sales oil exports edged down by 0.38 percent. By categories, outbound shipments fell for: animal and vegetable fats and oils (-16.48 percent), mineral fuels (-17.96 percent), rubber and rubber goods (-30.80 percent), vehicles and parts (-33.92 percent); machinery and aircraft mechanics (-36.39 percent). In contrast sales increased for: pulp (20.05 percent), aluminium (20.74 percent), fertlizer (11.81 percent); salt, sulfur and and chalk (10.36 percent), and other base metals (108.20 percent). Sales dropped to all major destination countries: Singapore (-30.28 percent); Malaysia (-29.96 percent); Thailand (-24.33 percent); Germany (-4.38 percent); the Netherlands (-4.54 percent); Italy (-29.74 percent); China (-10.24 percent); Japan (-18.15 percent); the US (-22.02 percent); India (-24.04 percent); Australia (-16.60 percent); South Korea (-10.00 percent); and Taiwan (-32.31 percent).
Imports contracted 17.21 percent from a year earlier to 10.01 USD billion in June, as purchases of oil and gas declined 8.80 percent to 1.62 USD billion and those of non-oil and gas went down 18.65 percent to 8.40 billion.
Compared to the prior month, imports slumped by 27.26 percent. While purchases of non-oil and gas decreased 29.88 percent, those of oil and gas went down by 9.79 percent. Imports went down the most for raw material (-29.32 percent to 7.43 USD billion), followed by capital goods (-25.85 percent to 1.45 USD billion), and consumption goods (-12.77 percent to 1.13 USD billion). Imports dropped from the majority of trading partners: Singapore (-22.21 percent); Thailand (-26.85 percent); Malaysia (-26.81 percent); the Netherlands (-47.33 percent); Italy (-48.90 percent); China (-37.14 percent); Japan (-19.27 percent); the US (-32.05 percent); South Korea (-26.98 percent); Australia (-27.45 percent); Taiwan (-42.57 percent); and India (-29.07 percent). By contrast, imports from Germany rose 35.90 percent.
Considering January to June 2017, the trade surplus was recorded 7.63 USD billion with exports rising by 14.03 percent compared to the same period a year earlier to 79.96 USD billion and imports increasing by 9.6 percent to 72.33 USD billion.