Indonesia Balance of Trade
Indonesia posted a trade surplus of 1.39 USD billion in January of 2017 , compared to a 13.6 USD million surplus a year earlier and above market estimates of a 0.85 USD billion surplus . It was the largest surplus since December 2013 , as exports rose much more than imports .
Year-on-year , exports from Indonesia jumped 27.71 percent from a year earlier to 13.38 USD billion in January of 2017 , compared to a 15.57 percent rise in December 2016 while market estimated a 21.73 percent growth . It was the fourth straight month of increase and the fastest since September 2011 , as sales of non-oil and gas products went up 29.24 percent to 12.11 USD billion while those of oil and gas rose by 14.77 percent to 1.27 USD billion .
Imports went up 14.54 percent to 11.99 USD billion , following a 5.82 percent growth in a month earlier while markets expected a 13.88 percent gain . It was the fourth consecutive month of increases , as purchases of non-oil and gas rose 10.12 percent to 10.18 USD billion while those of oil and gas increased 48.03 percent to 1.81 USD billion .
Compared to the previous month , outbound shipment decreased 3.21 percent , as non-oil and gas products dropped by 3.70 percent while sales oil exports increased by 1.72 percent .
By categories , outbound shipments rose for mineral fuels ( 0.58 percent ), rubber and rubber goods ( 10.55 percent ), iron & steel ( 21.22 percent ), vehicles & parts ( 7.93 percent ), machinery / aircraft mechanics ( 7.23 percent ) and goods from iron & steel ( 21.22 percent ). In contrast , sales decreased for jewelry , gems ( -14.71 percent ), apparel not knitted ( -8.82 percent ), and ore , cruct and gray metal ( - 27.56 percent ).
Sales went up to India ( 42.91 percent ). In contrast , exports fell to most of the country ' s trading partners : the ASEAN countries ( -12.62 percent ), the EU ( -4.44 percent ), Japan ( -6.75 percent ), China ( - 17.52 percent ), the US ( -2.13 percent ), South Korea ( -10.53 percent ), and Taiwan ( -11.65 percent ).
Compared to the prior month , inbound shipments decreased by 6.21 percent . While purchases of non-oil and gas went down 8.12 percent , those of oil and gas increased by 6.25 percent . Imports went up the most for raw material ( 20.92 percent to 9.06 USD billion ), followed by capital goods ( 6.04 percent to 1.92 USD billion ). In contrast , purchases decreased for consumption goods ( -13.39 percent to 1 USD billion ).
( Source : Trading Economics )
6 Trade & Investment Bulletin | Number V / March 2017