Indonesia trade balance swung to USD 300 million deficit in June of 2014 from USD 70 million surplus in May as imports grew faster than exports.
Indonesia exported USD 15.42 billion in June from USD 14.82 billion in May. Earlier this year, shipments out of the country have been hit by the government ban on mineral ore exports. Officials said this policy is set to encourage businesses to smelt their products in Indonesia.
Sales to China become the main contributor with a 12.27 percent increase compared to a month earlier, while shipments to India slowed to 7.77 percent from 19.38 percent in May. Exports to the ASEAN countries decreased 4.73 percent compared with a 5.7 percent increase in the previous month. Sales to the United States grew 10.8 percent and those to the European Union climbed 11.33 percent to USD 1.44 billion from USD 1.40 billion a month ago.
Inbound shipments in June rose to USD 15.72 billion compared with USD 14.76 billion in May. Crude oil imports decreased 10.44 percent to USD 1.16 billion in June from the USD 1.29 billion in the previous month. Purchasing of gas and oil products fell respectively 14.10 percent and 6.60 percent in June. Non-oil imports in the month rose 11.4 percent with purchases of iron and steel goods became the highest by 28.59 percent.
8/4/2014 10:50:00 AM