Indonesia Trade Balance Swings to Deficit in December
Indonesia posted a trade deficit of USD 0.27 billion in December of 2017, swinging from a USD 1.05 billion surplus a year earlier and missing market estimates of a USD 0.64 billion surplus. It was the first trade gap since July, mainly due to a surge in imports.
In December, exports increased 6.93 percent from a year earlier to 14.79 USD billion, as sales of non-oil and gas products rose 5.56 percent while those of oil and gas surged 20.78 percent.
Compared to the previous month, exports went down 3.45 percent, as non-oil and gas products decreased by 5.41 percent while sales oil exports jumped by 17.96 percent.
By categories, outbound shipments went up for: mineral fuel (2.02 percent); ore, crust, and metal ash (126.05 percent); iron and steel (38.08 percent); iron and steel objects (23.75 percent), and nickel (97.41 percent). In contrast sales decreased for: Animal/vegetable fats and oils (-5.84 percent); jewellry/gems (-38.83 percent); vehicles and parts (-25.54 percent); machinery/aircraft mechanics (-23.30 percent), and electrical machinery/aparatus (-17.14 percent).
Sales went up to : Japan (10.90 percent); South Korea (8.73 percent); Italy (11.36 percent), and Netherlands (0.93 percent). In contrast exports declined to Singapore (-23.20 percent); China (-1.22 percent); Australia (-13.59 percent); Malaysia (-13.89 percent); Thailand (-13.72 percent); Germany (-8.70 percent); India (-7.02 percent); the US (-5.52 percent), and Taiwan (-14.23ercent).
Imports jumped 17.83 percent from a year earlier to 15.06 USD billion in December, as purchases of non-oil and gas rose 12.87 percent to 12.51 billion and those of oil and gas surged 50.10 percent to 2.55 USD billion.
Compared to the prior month, imports fell by 0.29 percent. While purchases of non-oil and gas decreased 3.05 percent, those of oil and gas went up by 15.89 percent. Imports decreased for raw material (-1.17 percent to 10.99 USD billion). In contrast, imports rose for both capital goods (2.02 percent to 2.70 USD billion) and consumption goods (2.43 percent to 1.37 USD billion).
Imports went up from: Singapore (135.8 percent); Malaysia (14.5 percent); Germany (10.9 percent); Netherlands (33 percent); Italy (12.9 percent), and the US (57.3 percent). In contrast, imports decreased from the South Korea (-55.3 percent); Australia (-83.3 percent); Japan (-190.6 percent); China (-60.2 percent); India (-38.9 percent); Taiwan (-69.2 percent), and Thailand (-57.2 percent).
Considering full 2017, the trade balance registered a surplus USD 11.84 billion, with exports rising by 16.22 percent compared to the same period a year earlier to USD 168.73 billion and imports increasing by 15.66 percent to USD 156.89 billion
1/15/2018 6:42:59 AM