Indonesia Trade Surplus Largest in Near 6 Years
Indonesia recorded a trade surplus 1.72 billion in August of 2017, compared to a 0.37 USD billion of surplus a year earlier and above market estimates of a 0.52 USD billion surplus. It was the largest surplus in trade balance since November 2011, as exports jumped 19.24 percent from a year earlier to 15.21 USD billion while imports went up 8.89 percent to 13.49 USD billion.
In August, exports jumped 19.24 percent from a year earlier to 15.21 USD billion, as sales of non-oil and gas products surged 19.94 percent while those of oil and gas rose 12.15 percent.
9/15/2017 4:09:58 AM
Compared to the previous month, exports went up 11.73 percent, as non-oil and gas products increased by 11.93 percent while sales oil exports rose by 9.61 percent.
By categories, outbound shipments went up for: animal and vegetable fats and oils (22.31 percent); mineral fuels (3.81 percent); electrical machinery/aparatus (12.73 percent); knit goods (23.42 percent), and jewelry/gems (107.47 percent). In contrast sales decreased for: various chemicals products (-8.18 percent); paper/cardboard (-6.15 percent); copper (-2.46); inorganic chemiclas (-9.04 percent), and ships (-46.28 percent). Sales increased to all major destination countries: Singapore (32.16 percent); Malaysia (4.23 percent); Germany (1.78 percent); Italy (8.22 percent); China (21.59 percent); the US (15.92 percent); India (13.68 percent); Australia (24.31 percent), and Taiwan (12.01 percent), and South Korea (28.70 percent). In contrast exports fell to Thailand (-4.38 percent); the Netherlands (-0.79 percent), and Japan (-5.63 percent).
Imports increased 8.89 percent from a year earlier to 13.49 USD billion in August, as purchases of non-oil and gas rose 8.85 percent to 11.53 billion and those of oil and gas went up 9.11 percent to 1.96 USD billion.
Compared to the prior month, imports fell by 2.88 percent. While purchases of non-oil and gas dropped 4.80 percent, those of oil and gas went up by 10.16 percent. Imports dropped the most for capital goods (-5.95 percent to 2.22 USD billion), followed by raw material (-3.47 percent to 10.07 USD billion), while consumption goods rose (9.39 percent to 1.17 USD billion). Imports fell from: Thailand (-12.12 percent); Japan (-10.17 percent); the US (-8.87 percent); South Korea (-14 percent), and India (-5.30 percent). In contrast, imports increased from Singapore (4.20 percent); Malaysia (4.47 percent); Germany (10.10 percent); the Netherlands (21.97 percent); Italy (23.21 percent); China (0.53 percent); Australia (13.85 percent), and Taiwan (7.50percent).
Considering January to August 2017, the trade balance was recorded 9.11 USD billion surplus with exports rising by 17.58 percent compared to the same period a year earlier to 108.79 USD billion and imports increasing by 14.06 percent to 99.68 USD billion.