Indonesia Trade Balance Swings to Surplus in June


Indonesia recorded a USD 477.7 million trade surplus in June of 2015, swinging from a 288 million deficit reported a year earlier and slightly above market consensus, as imports declined more than exports.

In June, exports fell by 12.78 percent year-on-year to USD13.44 billion. Sales of non-oil and gas products fell by 5.06 percent to USD11.99 billion and those of oil and gas dropped by 47.73 percent to USD1.46 billion.

Imports declined by 17.42 percent year-on-year to USD12.97 billion. Purchases of non-oil and gas products fell by 15.58 percent to USD10.39 billion and those of oil and gas decreased by 24.06 percent to USD2.58 billion.

Compared to the previous month, exports grew by 5.91 percent. Oil exports increased by 6.27 percent and sales of non-oil and gas products grew by 5.87 percent. By products, sales rose for: fat and animal/natural oils (+17.01 percent to USD 1.80 billion), machinery/electrical equipments (+11.05 percent to USD 729.9 million), rubber and rubber articles (+14.27 percent to USD 566.9 million), articles of apparel accessories (+19.79 percent to USD377.3 million) and ships, boats and floating structures (+186.90 percent to USD87.8 million). In contrast, outbond shipments declined for: mineral fuels (-7.51 percent to USD1.25 billion); pearls, precious and semi-precious stones (-23.63 percent to USD450.1 million); ores, slag and ash (-27.36 percent to USD369.1 million); articles of iron and steel (+64.23 percent to USD201.7 million); copper and articles thereof (-15.90 percent to USD136.3 million) and iron and steel (-17.40 percent to USD117.9 million).

Sales to the country's major trading partners were mostly up except those to Japan, India and Taiwan. Those to the ASEAN countries rose the most by 10.70 percent to USD2.44 billion, followed by China (+11.37 percent to USD1.23 billion), the US (+6.96 percent to USD 1.38 billion), the EU countries (+6.18 percent to USD1.39 billion), Australia (+45.35 percent to USD398.4 million) and South Korea (+8.94 percent to USD521.8 percent. In contrast, sales  to Japan declined by 2.79 percent to USD1.11 billion), India (-10.36 percent to USD1.06 billlion) and Taiwan (-13.01 percent to USD283.9 million).

Compared to the previous month, imports increased by 11.63 percent. Purchases of oil and gas rose 23.89 percent while those of non-oil and gas increased by 8.95 percent. Imports increased for all categories: raw materials (+12.06 percent to USD9.77 billion ), capital goods (+10.98 percent to USD2.16 billion) and consumption goods (+8.93 percent to USD1.03 billion).

In May 2015, the country posted a revised USD1.08 billion trade surplus.

During January to June 2015, Indonesia registered a USD4.35 billion trade surplus, as compared to a USD1.15 billion gap a year earlier.

South East Asia's biggest economy has been running a consistent trade surpluses since December 2014.

Indonesia Trade Balance Swings to Surplus in June


Statistics Indonesia l Rida Husna l rida@tradingeconomics.com
7/15/2015 7:33:20 AM