Indonesia Trade Surplus Widens In February
Indonesia posted a trade surplus of 1.31 USD billion in February of 2017, compared to a 1.14 USD billion surplus a year earlier and above market estimates of a 1.2 USD billion surplus. Considering January to February, the goods surplus was recorded 2.75 USD billion, exports rose by 19.20 percent compared to the same period a year earlier to 25.98 USD billion while imports increased 12.51 percent to 23.22 USD billion.
Year-on-year exports from Indonesia increased 11.16 percent from a year earlier to 12.57 USD billion in February of 2017, compared to a 27.71 percent rise in January and slower than market estimates of a 15.19 percent growth. It was the fifth straight month of increase, as sales of non-oil and gas products went up 11.55 percent to 11.38 USD billion while those of oil and gas rose by 7.62 percent to 1.20 USD billion.
3/15/2017 7:47:45 AM
Imports went up 10.61 percent to 11.26 USD billion in February of 2017, following a 14.54 percent growth in a month earlier while markets expected a 13.00 percent gain. It was the fifth consecutive month of increases, as purchases of oil and gas jumped 116.04 percent to 2.43 USD billion while those of non-oil and gas fell 2.46 percent to 8.83 USD billion.
Compared to the previous month, exports decreased 6.17percent, as non-oil and gas products dropped by 6.21 percent while sales oil exports fell by 5.78 percent. By categories, outbound shipments rose for: rubber and rubber goods (6.80 percent), vehicles & parts (5.58 percent), organic chemicals (17.04 percent), product pharmaceutical industry (84.38 percent) and goods from iron & steel (21.22 percent), and jewelry, gems (+105.20 percent).In contrast, sales decreased for: apparel not knitted (-8.52 percent), ore, cruct and gray metal (-99.12 percent), mineral fuels (-17.91 percent), iron & steel -25.82 percent), fats and oil of animal/vegetables(-9.14 percent), and copper (-41.30 percent).
Sales went up to the ASEAN countries (1.85 percent). In contrast, exports fell to most of the country's trading partnes : the EU (-5.98 percent), Japan (-18.57 percent), China (-12.42 percent), the US (-4.92 percent), South Korea (-5.80 percent), and Taiwan (-14.64 percent), India (-22.73 percent), and Australia (-2.32 percent).
Compared to the prior month, inbound shipments declined by 5.96 percent. While purchases of non-oil and gas went down 12.93 percent, those of oil and gas increased by 32.71 percent. Imports went down the most for consumption goods (-13.18 percent to 0.87 USD billion), followed by capital goods (-11.32 percent to 1.70 USD billion), and raw material (-4.02 percent to 8.68 USD billion).
In January 2017, trade surplus was upwardly revised to 1.43 USD billion