Indonesia Trade Balance Swings to Deficit in August
Indonesia posted a USD 0.318 billion trade deficit in August of 2014, compared to a USD 0.07 billion surplus a year earlier and below market forecasts, as imports grew faster than exports. In July, the country posted a revised USD 0.043 billion trade surplus.
In August of 2014, exports amounted to USD 14.47 billion, a 10.6 percent increase compared to the same month a year ago. Oil exports fell 4.50 percent year-on-year, while overseas shipments for non-oil products gained 14.61 percent.
Sales to China and the US shrank 4.61 percent and 2.12 percent respectively compared to a month earlier. Outward shipments to Australia dropped the most by 34.5 percent. Exports to other major destinations were up from the previous month, namely to the EU countries (+7.46 percent), the ASEAN countries (+5.99 percent), Japan (+8.64 percent), India (+9.06 percent) and South Korea (+8.7 percent).
Inbound shipments amounted to USD 14.79 billion, a 13.7 percent increase from the same month last year.
Purchases from main countries increased compared to the preceding month: those from the USA accelerated 11.76 percent, Japan (+14.96 percent), China (+11.42 percent), South Korea (+23.20 percent), the EU countries (+24.18 percent), India (+20.62 percent) and from the ASEAN countries (+9.84 percent).
Both exports and imports to Taiwan in August of 2014 fell respectively by 1.01 percent and 2.95 percent.
On a monthly basis, oil exports rose 4.08 percent in August, while sales of non-oil products increased 2.14 percent. Imports of oil in the month shrank 18.54 percent and purchases of non-oil products increased 14.99 percent.
10/1/2014 8:41:36 AM