Indonesia Trade Surplus Beats Expectations in October
Indonesia posted a trade surplus of 1.21 billion USD in October of 2016, compared to a 1.01 billion USD surplus a year earlier and above market estimates of USD 1.03 billion, as exports grew more than imports. Overseas sales rose by 4.6 percent YoY to 12.7 billion USD in October, following a 0.1 percent fall in September and beat market estimate of a 4.3 percent rise. While imports rose 3.3 percent to USD 11.5 billion in October, below market estimate of a 4.9 percent increase.
Exports fell 0.1 percent to USD 12.6 billion while imports fell 2.26 percent to USD 11.3 billion in the previous month. Trade surplus was upwardly revised to to 1.27 billion USD in September. From January to October 2016, trade surplus was recorded at 6.93 USD billion, lower than that 8.23 USD billion surplus in the same period a year earlier.
Year-on-year, overseas sales rose 4.6 percent to USD 12.7 billion, following a 0.6 percent fall in September while market estimated a 4.3 percent rise.
Imports went up 3.27 percent in October from a year earlier to USD 11.47 billion, compared to a 2.26 percent fall in September and beating consensus of a 4.90 percent increase. It was the first rise in 25 months and the fastest since August 2014, as purchases of non-oil and gas rose 6.33 percent while those of oil and gas declined by 13.13 percent.
Compared to the previous month, exports rose by 0.88 percent. Oil exports decreased by 2.85 percent and sales of non-oil and gas products went up 1.22 percent. Sales to most of the country's trading partners rose : China (+24.69 percent), Japan (+3.52 percent), the ASEAN countries (+0.72 percent). In contrast, sales declined to the EU countries (-0.19 percent), South Korea (-9.50 percent), the US (-4.66 percent), India (-0.69 percent), and Taiwan (-16.99 percent).
Compared to a month earlier, imports increased 1.55 percent, led by machinery and electrical equipment (+6.25 percent) and iron and steel (+8.43 percent).
In September, trade surplus was upwardly revised to USD 1.27 billion.
From January to October 2016, trade surplus was recorded at USD 6.93 billion, lower than a USD 8.23 billion surplus in the same period a year earlier.
11/15/2016 5:26:47 AM