Year-on-year, sales unexpectedly dropped by 17.02 percent to USD 95.1 billion, following a 4.42 percent decline in June while market expected a 0.97 percent increase. It was the 22nd straight month of fall as sales of non-oil and gas products decreased by 8.78 percent to USD 8.52 billion and those of oil and gas dropped by 34.32 percent to USD 998.6 billion.
Imports decreased by 11.56 percent to USD 89.20 billion, compared to a 7.41 percent fall in June and market consensus of a 6.18 percent rise. It was also the 22nd consecutive month of fall. Purchases of non-oil and gas products fell 4.43 percent to USD 7.44 billion and those of oil and gas decreased by 35.77 percent to USD 1.47 billion.
Compared to the previous month, exports were down by 26.67 percent. Oil exports dropped by 15.89 percent and sales of non-oil and gas products fell 27.75 percent. By categories, sales declined for: machine/electrical equipments (-28.96 percent), pearls, precious and semi-precious stones (-45.14 percent), machine/mechanical equipment (-35.69 percent), apparel not knitted (+49.51 percent) and ores, crust, metal ash (-57.24 percent). In contrast, outbound shipments increased for: iron and steel articles (+130.82 percent), pulp (+16.0 percent), residual food industry (+7.93 percent), aircraft and parts (+5.16 percent) and live animals (+11.96 percent).
Sales were lower to all of the country's main trading partners: the ASEAN countries (-26.14 percent to USD 1.91 billion), the EU countries (-22.90 percent to USD 954.5 million), Japan (-34.11 percent to USD 821.64 million), China (+25.07 percent to USD 915.7 million), the US (-39.01 percent to USD 991.0 million), India (-15.63 percent to USD 652.9 million) and South Korea (-24.51 percent to USD 363.8 million).
Compared to a month earlier, imports went down 26.28 percent. Purchases of oil and gas decreased by 16.84 percent and those of non-oil and gas declined by 27.91 percent. Imports dropped for all categories: consumption goods(-36.64 percent to USD 723.3 million), raw materials (-24.36 percent to USD 6.78 billion) and capital goods (-29.0 percent to USD 1.42 billion).
In June 2016, trade surplus was marginally revised to USD 0.89 billion.