Indonesia Trade Surplus Widens In March
Indonesia posted a trade surplus of 1.23 USD billion in March of 2017, compared to a 0.51 USD billion surplus a year earlier and above market estimates of a 1.20 USD billion surplus. Considering January to March, the goods surplus was recorded 3.93 USD billion, exports rose by 20.34 percent compared to the same period a year earlier to 40.61 USD billion while imports increased 14.83 percent to 36.68 USD billion.
Year-on-year, exports from Inonesia jumped 23.55 percent from a year earlier to 14.59 USD billion, following a 11.16 percent rise in the prior month and above market consensus of a 12 percent gain. It was the sixth straight month of increase, as sales of non-oil and gas products jumped 24.03 percent to 13.11 USD billion while those of oil and gas rose by 19.46 percent to 1.48 USD billion.
4/17/2017 8:31:27 AM
Imports went up 18.19 percent to 13.36 USD billion in March, following a 10.61 percent growth in a month earlier while markets expected a 8.7 percent rise. It was the sixth consecutive month of increases and the highest gain since February of 2012, as purchases of oil and gas jumped 45.70 percent to 2.26 USD billion while those of non-oil and gas rose 13.81 percent to 11.10 USD billion.
Compared to the previous month, exports increased 15.68 percent, as non-oil and gas products went up by 14.86 percent while sales oil exports jumped by 23.56 percent. By categories, outbound shipments rose for: rubber and rubber goods (25.30 percent), mineral fuels ( 2.84 percent), machinery and electrical equipment (16.40 percent), wood and pulp (53.83 percent), iron ore, crust and metal (4,938.53 percent). In contrast sales decreased for : chemical products (-9.05 percent), meat and processed fish (-14.88 percent), cosmetics (-6.46 percent), the waste of the food industry (-25.60), and product pharmaceutical industry (-9.89 percent).
Sales went up to the ASEAN countries (9.96 percent). In contrast, exports increased to all country's trading partnes: the EU (13.26 percent), Japan (33.91 percent), China (31.28 percent), the US (11.04 percent), South Korea (35.64 percent), Taiwan (19.54 percent), India (4.76 percent), and Australia (18.40 percent).
Compared to the prior month, inbound shipments increased by 17.65 percent. While purchases of non-oil and gas jumped 24.94 percent, those of oil and gas decreased by 8.54 percent. Imports went up the most for consumption goods (58.21 percent to 1.41 USD billion), followed by capital goods (18.80 percent to 2.02 USD billion), and raw material (13.31 percent to 9.93 USD billion).
In February 2017, trade surplus was downwardly revised to 1.26 USD billion.