Indonesia recorded a trade surplus of USD 1.09 billion in March of 2018, from a USD 1.40 billion surplus a year earlier and missing market estimates of a USD 0.09 billion deficit. It was the first of trade surplus in four months and the largest since October 2017, mainly due to a slowdown in imports.
In March, exports increased 6.14 percent from a year earlier to 15.58 USD billion, beating market consensus of a 1.7 percent rise and after an upwardly revised 12.04 percent growth in the prior month. Sales of non-oil and gas products went up by 8.16 percent to 14.24 USD billion, while those of oil and gas declined by 11.46 percent to 1.34 USD billion.
Compared to the previous month, exports rose 10.24 percent, as non-oil and gas products increased by 11.77 percent while sales oil and gas decreased by 3.81 percent. By categories, outbound shipments increased for: mineral fuel (18.58 percent); footwear (15.08 percent); iron and steel (64.94 percent); ore, crust, and metal ash (31.69 percent); and fish and shrimp (23.60 percent). In contrast sales dropped for: tin (-45.25 percent); ship (-88.11 percent); nickel (-12.46 percent); vegetable stuff (-66.48 percent), and animal/vegetables fats and oils (-1.09 percent).
Sales went up to China (14.39 percent); the US (23.59 percent); Australia (29.22 percent); Malaysia (7.47 percent); Thailand (14.35 percent); Germany (13.83 percent), Japan (12.87 percent); South Korea (20.66 percent); Netherlands (8.54 percent); India (25.62 percent); Taiwan (9.46 percent), and Italy (17.94 percent). In contrast, exports fell to Singapore (-12.89 percent).
Imports increased 9.07 percent to 14.49 USD billion, following a downwardly revised 24.94 percent jump in the prior month and below estimates of a 13.25 percent increase. Purchases of non-oil and gas rose 11.08 percent to 12.23 billion and those of oil and gas edged down by 0.64 percent to 2.27 USD billion.
Compared to the prior month, imports went up by 2.13 percent. While purchases of non-oil and gas increased 2.30 percent, those of oil and gas rose by 1.24 percent. Imports went up for both raw material (2.62 percent to 10.58 USD billion) and capital goods (8.99 percent to 2.45 USD billion). In contrast, imports declined for consumption goods (-12.80 percent to 1.20 USD billion).
Imports rose from: the US (25.02 percent); Japan (17.84 percent); Malaysia (23 percent); Germany (2.06 percent); South Korea (4.43 percent); India (22.34 percent); Singapore (10.63 percent); Thailand (5.27 percent); and Italy (64.53 percent). In contrast, imports went down from China (-17.82 percent); Taiwan (-5.78percent); Netherlands (-7.09 percent), and Australia (-4.42 percent).
Considering January to March 2018, the trade surplus was 0.28 USD billion, with exports rising by 8.78 percent compared to the same period a year earlier to 44.27 USD billion and imports increasing by 20.12 percent to 43.98 USD billion.
4/16/2018 6:55:10 AM