Indonesia Trade Surplus Smallest in 3 Months
Indonesia posted a trade surplus 0.90 billion in October of 2017, compared to a 1.24 USD billion of surplus a year earlier and below market estimates of a 1.63 USD billion surplus. It was the smallest surplus in trade balance since July, as exports rose less than imports.
In October, exports increased 18.39 percent from a year earlier to 15.09 USD billion, as sales of non-oil and gas products rose 17 percent while those of oil and gas surged 33.77 percent.
Compared to the previous month, exports went up 3.62 percent, as non-oil and gas products increased by 4.22 percent while sales oil exports fell by 1.86 percent.
By categories, outbound shipments went up for: mineral fuel (4.82 percent); ore, crust, and metal ash (34.56 percent); vehicles and parts (9.05 percent); footwear (20.27 percent), and fish and shrimp (21.46 percent). In contrast sales decreased for: electrical machinery/aparatus (-3.17 percent); knit goods (-10 percent); and jewellry/gems (-22.74 percent). nicle (-23.84 percent), and aluminum (-31.13 percent). Sales went up to all major destination countries: Malaysia (3.96 percent); Thailand (4.50 percent); Germany (1.38 percent); Italy (15.67 percent); China (23.64 percent); India (8.44 percent); Australia (2.59 percent); South Korea (17.47 percent), and the Netherlands (7.45 percent). In contrast exports declined to Japan (-1.37 percent); Singapore (-15.03 percent); the US (-4.66 percent), and Taiwan (-2.40 percent).
Imports jumped 23.33 percent from a year earlier to 14.19 USD billion in October, as purchases of non-oil and gas rose 20.33 percent to 11.99 billion and those of oil and gas surged 42.67 percent to 2.20 USD billion.
Compared to the prior month, imports rose by 11.04 percent. While purchases of non-oil and gas increased 10.52 percent, those of oil and gas went up by 13.96 percent. Imports increased the most for raw material (12.13 percent to 10.77 USD billion), followed by consumption goods (11.68 percent to 1.25 USD billion) and capital goods (5.60 percent to 2.17 USD billion). Imports went up from: Japan (21.19 percent); the US (8.25 percent); South Korea (19.18 percent); India (32.96 percent); Germany (6.45 percent); China (8.38 percent); Australia (12.40 percent); Taiwan (8.10 percent), and Malaysia (1.20 percent). In contrast, imports decreased from the Netherlands (-35.05 percent); Thailand (-1.23 percent); Singapore (-0.31 percent), and Italy (-16.41percent).
Considering January to October 2017, the trade balance was recorded 11.78 USD billion surplus with exports rising by 17.49 percent compared to the same period a year earlier to 138.46 USD billion and imports increasing by 14.95 percent to 126.68 USD billion.
11/15/2017 12:09:00 PM