Indonesia Trade Balance Swings to Surplus in November
Indonesia posted a trade surplus of 0.84 USD billion in November of 2016, reversing from a 0.4 USD billion deficit a year earlier. Figure came slightly above market estimates of 0.82 USD billion surplus, as exports rose much more than imports.
12/15/2016 6:11:50 AM
Year-on-year, exports jumped 21.34 percent to 13.50 USD billion, compared to a 4.60 percent rise in October and beating market consensus of a 10.0 percent growth. It was the fastest growth since September 2011, as sales of non-oil and gas products went up 28.75 percent to 12.39 USD billion, those of oil and gas dropped by 26.32 percent to 1.10 USD billion.
Imports increased by 9.88 percent to 12.66 USD billion, following a 3.27 percent gain in the prior month while market expected a 0.1 percent rise. It was the second straight month of increase, as purchases of non-oil and gas rose 10.31 percent to 10.90 USD billion and those of oil and gas increased by 7.27 percent to 1.76 USD billion.
Compared to the previous month, outbound shipments rose 5.91 percent. While sales of non-oil and gas products went up 28.75 percent to 12.39 USD billion, those of oil and gas dropped by 26.32 percent to 1.10 USD billion. Sales rose to most of the country's trading partners : the US (+13.22 percent), the EU countries (+9.92 percent), India (+8.81 percent), China (+5.85 percent), Japan (+13.22 percent), the ASEAN countries (+0.18 percent), South Korea (+2.41 percent) percent) and Taiwan (+18.28 percent).
Compared to a month earlier, imports went up 10.00 percent, led by machinery and electrical equipment (+15.23 percent), machinery and mechanical equipment (+8.34 percent) and optical equipment (+39.73 percent). Imports rose for all categories: consumption goods (+7.32 percent to 1.03 USD billion), raw materials (+11.63 percent to 9.56 USD billion) and capital goods (+4.23 percent to 2.07 USD billion).
In October 2016, trade surplus was marginally revised to 1.24 USD billion.
From January to November 2016, trade surplus was recorded at 7.80 USD billion, compared to a 7.83 USD billion surplus in the same period a year earlier.