Indonesia Trade Surplus Narrows Sharply in September
Indonesia's trade surplus narrowed sharply to USD 0.23 billion in September 2018, from a USD 1.79 billion in the same month a year earlier, missing market consensus of a USD 0.5 billion gap. Exports rose 1.7 percent to USD 14.83 billion while imports increased at a faster 14.18 percent to USD 14.60 billion.
10/15/2018 8:04:16 AM
Exports increased 1.70 percent from a year earlier to USD 14.83 billion, far below market consensus of a 7.58 percent rise and after an upwardlly revised 4.52 percent growth in the prior month. Sales of non-oil and gas products went up by 3.78 percent to USD 13.62 billion while those of oil and gas tumbled by 16.99 percent to USD 1.21 billion.
Compared to the previous month, exports dropped 6.58 percent, as non-oil and gas products fell by 5.67 percent and sales oil and gas plunged by 15.81 percent. By categories, outbound shipments declined for: mechanical machines/aircraft (-11.60 percent); jewelery (-20.13 percent); footwear (-13.69 percent); electric machinery and equipment (-11.48 percent); and apparel not knitted (-17.41 percent). By contrast, sales went up for: fruit (14.38 percent); iron and steel (20.23 percent); tin (7.56 percent); ore, metal crust and metal ash (18.86 percent); and pulp (5.65 percent). Sales went down to: China (-8.66 percent); the US (-6.90 percent); Japan (-10.11 percent); Taiwan (-23.43 percent); Singapore (-16.90 percent); Australia (-8.37 percent); Malaysia (-11.84 percent); Germany (-12.19 percent), and the Netherlands (-9.54 percent). Meantime, sales rose to South Korea (13.33 percent); India (3.30 percent); Thailand (0.48 percent); and Italy (6.46 percent).
Imports went up at a faster 14.18 percent from a year earlier to USD 14.60 billion in September, following a downwardlly revised 24.49 percent rise in the prior month and far below expectations of a 24.76 percent increase. Purchases of non-oil and gas rose 13.54 percent to USD 12.32 billion while those of oil and gas increased by 17.75 percent to USD 2.28 billion.
Compared to the prior month, imports tumbled by 13.18 percent, with purchases of non-oil and gas slumping 10.52 percent while those of oil and gas plunged by 25.20 percent. Imports went down for all categories: raw material (-13.53 percent); capital goods (-10.45 percent), and consumption goods (-14.97 percent). Among major trading partners, imports declined from: China (-6.42 percent); the US (-1.38 percent); Japan (-13.70 percent); Taiwan (-8.98 percent); South Korea (-9.95 percent); Singapore (-13.31 percent); Thailand (-2.99 percent); Malaysia (-3.10 percent); Germany (-25.07 percent); Australia (-31.64 percent), and India (-15.63 percent). On the other hand, imports rose to Italy (3.44 percent); and the Netherlands (24.45 percent).
Considering January to September, the trade balance posted a deficit of USD 3.78 billion, compared with a surplus of USD 10.86 billion in the same period of 2017.