Indonesia Posts 1st Trade Deficit in A Year


Indonesia recorded a USD0.35 billion trade deficit in November of 2015, as compared to a USD0.42 billion gap reported a year earlier and missing market consensus of a surplus. It is the first deficit since November 2014, as exports declined faster than expected.

In November, exports declined by a faster-than-expected 17.58 percent year-on-year to USD11.16 billion, following a 20.98 percent drop in a month earlier. Sales of non-oil and gas products dropped by 16.75 percent to USD9.58 billion and those of oil and gas dropped by 22.28 percent to USD1.58 billion.

Imports declined by 18.03 percent year-on-year to USD11.51 billion, following a 27.81 percent fall in the preceding month. Purchases of non-oil and gas products fell by 6.62 percent to USD9.87 billion and those of oil and gas decreased by 52.76 percent to USD1.64 billion.

Compared to the previous month, exports decreased by 7.91 percent. Oil exports rose 14.67 percent and sales of non-oil and gas products dropped by 10.81 percent. By product, sales declined for: animal/vegetables fat and oils (-9.76 percent to USD1.41 billion); mineral fuels, mineral oil products (-15.34 percent to USD663.3 million); electricity, machinery, sound recording, tv, etc (-36.97 percent to USD239.1 million); pearls, precious and semi-precious stone (-23.87 percent to USD364.5 million) and coffee, tea, mate & spices (-74.17 percent to USD39.5 million). In contrast, outbond shipments increased for: vehicles other than railways (+17.72 percent to USD433.2 percent); footwear (+3.21 percent to USD298.7 million); ores, slag and ash (+82.63 percent to USD103.3 million); pulp of wood, waste of paper (+28.13 percent to USD89.9 million) and aluminium and articles from aluminium (+14.78 percent to USD76.3 million).

Sales declined to all of the country's main trading partners. Export to the ASEAN countries dropped by 12.13 percent to USD2.08 billion, followed by China (-6.63 percent to USD1.02 billion), Japan (-2.28 percent to USD991.5 million), India (-14.50 percent to USD856.9 million),  the US (-4.90 percent to USD1.15 billion), the ASEAN countries (-12.13 percent to USD 2.08 billion), the EU countries (-8.62 percent to USD1.12 billion), South Korea (-7.84 percent to USD362.1 million), Australia (-12.06 percent to USD210.8 percent) and Taiwan (-14.76 percent to USD213.3 million). 

Compared to a month earlier, imports increased by 3.61 percent. Purchases of oil and gas declined by 6.95 percent and those of non-oil and gas rose 5.60 percent. Imports were up for: raw materials (+3.12 percent to USD8.52 billion ) and consumption goods (+25.48 percent to USD970.7 million). In contrast, inbound shipments for capital goods declined by 2.62 percent to USD2.01 billion.

In October 2015, the country posted a USD1.01 bllion trade surplus. 

During January to November 2015, Indonesia registered a USD7.81 billion trade surplus, as compared to a USD1.65 billion gap a year earlier.

Indonesia Posts 1st Trade Deficit in A Year


Statistics Indonesia l Rida Husna | rida@tradingeconomics.com
12/15/2015 6:45:23 AM