Indonesia Posts Large Trade Surplus in July


Indonesia recorded a USD1330 million trade surplus in July of 2015, sharply widening from a USD50 million surplus reported a year earlier and beating market consensus, as imports declined more than exports.

In July, exports fell by 19.23 percent year-on-year to USD11.41 billion. Sales of non-oil and gas products fell by 14.11 percent to USD9.99 billion and those of oil and gas dropped by 43.04 percent to USD1.42 billion.

Imports declined by 28.44 percent year-on-year to USD10.08 billion. Purchases of non-oil and gas products fell by 21.46 percent to USD7.79.39 billion and those of oil and gas decreased by 45.02 percent to USD2.30 billion.

Compared to the previous month, exports declined by 15.53 percent. Oil exports fell by 1.26 percent and sales of non-oil and gas products dropped by 17.23 percent. By products, sales decreased for animal or vegetative oils and fats (-18.84 percent to USD1.46 billion); electrical, machinery, sound recording, tv, etc (-16.13 percent to USD624.6 million); pearls, precious and semi precious stone (-56.73 percent to USD194.8 million); vehicles other than railway (-25.02 percent to USD359.8 million) and  footwear (-30.87 percent to USD290.4 million). In contrast, outbond shipments increased for: mineral fuels, mineral oil products (+3.42 percent to USD1.31 billion); ores, slag and ash (+3.88 percent to USD383.4 million); coffee, tea, mate and spices (+10.24 percent to USD201.7 million); pulp, waste of paper (+7.01 percent to USD141.1 million) and aluminium and aluminium articles (+23.68 percent to USD57.2 million).

Sales to all of the country's major trading partners were down. Those to the ASEAN countries fell by 14.60 percent to USD2.11 billion, followed by China (-10.69 percent to USD1.11 billion), the US (-15.82 percent to USD 1.17 billion), Japan (-9.16 percent to USD1.01 billion), India (-21.99 percent to USD833.5 million), the EU countries (-20.73 percent to USD1.11 billion), Australia (-29.72 percent to USD280.2 million), South Korea (-18.30 percent to USD429.5 percent and Taiwan (-16.70 percent to USD236.8 million).

Compared to the previous month, imports dropped by 22.36 percent. Purchases of oil and gas declined by 10.99 percent while those of non-oil and gas increased by 25.18 percent. Imports decreased for all categories: raw materials (-21.41 percent to USD7.68 billion ), capital goods (-22.4 percent to USD1.69 billion) and consumption goods (-31.31 percent to USD706.1 million).

In June 2015, the country posted an upwardly revised USD528 mllion trade surplus.

During January to July 2015, Indonesia registered a USD5.73 billion trade surplus, as compared to a USD1.10 billion gap a year earlier.

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

Indonesia Posts Large Trade Surplus in July


Statistics Indonesia l Rida Husna l rida@tradingeconomics.com
8/18/2015 6:14:55 AM