Indonesia Trade Surplus Widens 27% YoY In May
Indonesia posted a trade surplus of 0.47 USD billion in May of 2017, compared to a 0.37 USD billion surplus a year earlier and below market estimates of a 1.09 USD billion surplus. Considering January to May 2017, the goods surplus was recorded 5.90 USD billion, exports rose by 19.93 percent compared to the same period a year earlier to 68.26 USD billion while imports increased 15.71 percent to 62.37 USD billion.
Year-on-year exports increased 24.08 percent from a year earlier to 14.29 USD billion in May of 2017, compared to an upwardly revised 12.71 percent rise in April and faster than market estimates of a 15.32 percent growth. It was the eighth straight month of increase, as sales of non-oil and gas products rose 23.34 percent to 13.02 USD billion while those of oil and gas rose by 32.31 percent to 1.27 USD billion.
Imports to Indonesia increased 24.03 percent from a year earlier to 13.82 USD billion in May of 2017, following an upwardly revised 10.46 percent growth in a month earlier while markets expected a 9.9 percent gain. It was the eighth consecutive month of increases as purchases of oil and gas rose 9.10 percent to 1.82 USD billion while those of non-oil and gas jumped 26.65 percent to 12 USD billion.
Compared to the previous month, exports increased 7.62 percent, as non-oil and gas products went up by 6.37 percent while sales oil exports rose by 22.36 percent. By categories, outbound shipments rose for: vehicles and parts thereof (16.19 percent); machinery/mechanical equipment (43.81 percent); knit goods (26.60 percent); machinery and electrical equipment (12.04 percent), and iron and steel 43.39 percent). In contrast sales decreased for : rubber and rubber goods (-4.28 percent); mineral fuels (-6.47 percent), ore, crust, and metal ash (-17.70); jewelry/gems (-18.82 percent), and ship (-83.69 percent). Sales went up to the ASEAN countries (10.48 percent), the EU countries (2.18 percent), Japan (16.75 percent), the USA ( 12 percent), India (7.61 percent), Australia (21.02 percent), and Taiwan (7.65 percent). In contrast, sales fell to China (-3.85 percent) and South Korea (-4.34 percent).
Compared to the prior month, inbound shipments increased by 15.67 percent. While purchases of non-oil and gas rose 16.49 percent, those of oil and gas went up by 10.54 percent. Imports went up the most for raw material (17.39 percent to 10.54 USD billion), followed by capital goods (7.19 percent to 2 USD billion), and consumption goods (16 percent to 1.28 USD billion).
In April 2017, trade surplus was upwardly revised to 1.33 USD billion.
6/15/2017 7:22:51 AM