Indonesia reported a USD 190 million trade surplus in December of 2014, down from a USD 1510 million a year earlier as exports declined more than imports.
In December, exports declined by 13.83 percent yoy to USD 14.62 billion. Sales of non-oil and gas products fell by 9.55 percent year-on-year to USD 12.27 billion and those of oil and gas dropped by 30.89 percent to USD 2.35 billion.
In December, imports declined by 6.61 percent yoy to USD 13.61 billion. Purchases of non-oil and gas products fell by 1.69 percent to USD 11.04 billion and those of oil and gas declined by 19.71 percent to USD 3.38 billion.
Compared to the previous month, exports increased by 7.38 percent. Oil exports rose 11.70 percent and sales of non-oil and gas products also gained 6.59 percent. By products, sales of pearls, precious and semi-precious stone rose the most by 55.00 percent to USD 475.1 million, followed by rubber and rubber articles (+9.85 percent to USD 502.6 million); electrical machinery, sound recording, tv, etc (+7.51 percent to USD 810.0 million); vehicles other than railway (+5.23 percent to USD 464.0 million) and nuclear reactor, boiler and mechanical appliances (+3.79 percent to USD 474.4 million). In contrast, exports declined for miscellaneous chemical products (-10.91 percent to USD 246.7 million); paper and paperboard (-3.09 percent to USD 283.4 million); animal or vegetarian fats and oils (-2.94 percent to USD 1.70 billion); mineral fuels, mineral oil products (-2.66 percent to USD 1.65 billion) and fish, crustaceans and moluscs (-0.23 percent to USD 276.2 million).
Outbound shipments to the country's major trading partners were mostly up except those to China. Sales to the USA increased the most by 23.93 percent to USD 1.46 billion, followed by the European countries (+13.28 percent to USD 1.44 billion), Japan (+2.10 percent to USD 1.26 billion), India (+1.92 percent to USD 989.5 million), South Korea (+4.16 percent to USD 486.8 million) and the ASEAN countries (+9.39 percent to USD 2.45 billion). Exports to China fell by 1.08 percent to USD 1.33 billion, following a 12.86 percent increase in the preceding month.
Compared to the previous month, imports increased 2.8 percent. While purchases of oil and gas in fell 2.4 percent, non-oil and gas imports increased by 4.51 percent. Imports of capital goods declined by 3.46 percent and purchases of raw material and consumption goods increased by 3.31 percent and 11.29 percent respectively. Inbound shipments from major destinations were up except those from Japan (-0.18 percent to USD 1.22 billion), the EU countries (-6.32 percent to USD 966.8 million) and the ASEAN countries (-0.54 percent to USD 2.27 billion). Imports from India increased the most by 21.51 percent to USD 258.7 million, followed by South Korea (+12.68 percent to USD 681.6 million), China (+12.24 percent to USD 2.93 billion), Taiwan (+11.96 percent to USD 315.4 million) and the US (+2.05 percent to USD 616.0 million).
In November, the country posted a USD 0.43 billion trade deficit.
From January to December 2014, Indonesia's total exports were recorded at USD 176.29 billion while imports amounted at USD 178.18 billion. That brought a 1.88 billion trade deficit, as compared to a USD 4.07 billion shortage in the preceding year.
2/2/2015 11:26:02 AM