Indonesia Trade Surplus Largest in Near 6 Years
Indonesia posted a trade surplus 1.76 billion in September of 2017, compared to a 1.28 USD billion of surplus a year earlier and above market estimates of a 1.18 USD billion surplus. It was the largest surplus in trade balance since November 2011, supported by robust exports.
10/16/2017 6:50:28 AM
In September, exports increased 15.60 percent from a year earlier to 14.54 USD billion, as sales of non-oil and gas products rose 13.76 percent while those of oil and gas surged 35.58 percent.
Compared to the previous month, exports went down 4.51 percent, as non-oil and gas products decreased by 6.09 percent while sales oil exports rose by 12.71 percent.
By categories, outbound shipments went down for: animal and vegetable fats and oils (-9.06 percent); electrical machinery/aparatus (-8.20 percent); knit goods (-16.55 percent); clothing is not knitted (-25.58 percent), and jewellry/gems (-21.41 percent). In contrast sales increased for: mineral fuels (10.66 percent); various chemicals products (3.84 percent); paper/cardboard (35.12 percent); tin (14.47 percent), and ore, crust, and metal ash (14.37 percent). Sales fell to all major destination countries: Singapore (-4.19 percent); Malaysia (-2.99 percent); Germany (-8.69 percent); Italy (-11.41 percent); China (-2.83 percent); the US (-9.63 percent); India (-2.88 percent); Australia (-21.26 percent); Taiwan (-1.69 percent); South Korea (-13.92 percent); Thailand (-7.37 percent), and the Netherlands (-1.60 percent). In contrast exports grew to Japan (3.49 percent).
Imports increased 13.13 percent from a year earlier to 12.78 USD billion in September, as purchases of non-oil and gas rose 13.80 percent to 10.85 billion and those of oil and gas went up 9.54 percent to 1.93 USD billion.
Compared to the prior month, imports fell by 5.39 percent. While purchases of non-oil and gas dropped 5.67 percent, those of oil and gas went down by 3.79 percent. Imports dropped the most for capital goods (-7.13 percent to 2.05 USD billion), followed by consumption goods (-5.87 percent to 1.12 USD billion), and raw material (-4.96 percent to 9.60 USD billion). Imports fell from: Thailand (-4.82 percent); Japan (-11.72 percent); the US (-8. 20 percent); South Korea (-8.46 percent); Singapore (-1.07 percent); India (-8.93 percent); Germany (-3.80 percent); Italy (-25.26 percent); China (-4.30 percent); Australia (-18.89 percent), and Taiwan (-18.06 percent). In contrast, imports increased from Malaysia (6.07 percent) and the Netherlands (81.99 percent).
Considering January to September 2017, the trade balance was recorded 10.87 USD billion surplus with exports rising by 17.36 percent compared to the same period a year earlier to 123.36 USD billion and imports increasing by 13.97 percent to 112.49 USD billion.