In March, exports fell by 9.75 percent year-on-year to USD 13.71 billion. Sales of non-oil and gas products fell by 6.61 percent to USD 11.72 billion and those of oil and gas dropped by 24.70 percent to USD 1.98 billion.
Imports declined by 13.39 percent year-on-year to USD 12.58 billion. Purchases of non-oil and gas products fell by 2.07 percent to USD 10.31 billion and those of oil and gas declined by 43.22 percent to USD 2.27 billion.
Compared to the previous month, exports increased by 12.63 percent. Oil exports rose by 13.43 percent and sales of non-oil and gas products gained 12.50 percent. By products, sales increased for: mineral fuels (+23.61 percent to USD 1.7 billion); pearls/gems (+24.15 percent to USD 668.4 million); fat and animal/natural oils (+8.97 percent to USD 1.57 billion); woods and woods articles (+33.31 percent to USD 395.9 million) and machine/ electrical equipments (+9.89 percent to USD 748.4 million). In contrast, exports declined for: tins (-21.15 percent to USD 107.2 million), nickel (-55.03 percent to USD 37.5 million) and iron & steel (-22.02 percent to USD 90.7 percent).
Outbound shipments to the country's major trading partners were mostly up except those to the EU countries and Australia. Sales to the ASEAN countries increased the most by 15.92 percent to USD 2.39 billion, followed by China (+17.3 percent) to USD 1.10 billion), Japan (+13.2 percent to USD 1.28 billion), the US (+11.84 percent to USD 1.32 billion), India (+14.13 percent to USD 1.09 billion) and South Korea (+10.22 percent to USD 492.5 million). In contrast, sales to the EU countries declined by 1.61 percent to USD 1.21 billion and those to Australia dropped by 16.51 percent to USD 165.1 million.
Compared to the previous month, imports increased 9.29 percent. Purchases of oil and gas in rose by 31.89 percent while those of non-oil and gas increased by 5.32 percent. Imports rose accross the board: capital goods (+21.52 percent to USD 2.34 billion million), raw materials (+6.25 percent to USD 9.31 billion and consumption goods (+12.99 percent to USD 930.7 million).
In February 2015, the country posted a revised USD 662.7 million trade surplus.