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.
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
3/15/2017 7:47:45 AM