Asia: Indonesia records trade surplus of USD $1.09 billion, after three consecutive months of deficits

Indonesia posted a trade surplus for the month of March, of USD $1.09 billion, according to an announcement by the country’s Central Statistics Agency (BPS). This comes after the country had posted trade deficits for the consecutive months of December 2017 to February 2018.

Growth in exports was strong as it reached a value of USD $15.58 billion, representing a 6.14% year-on-year increase – but crisply weaker than February’s growth of 12.04%. The statistics bureau attributed the export growth slowdown to a decline in shipments of oil and gas, a decrease of 3.81% month-to-month, due to slow performance in gas exports.

Meanwhile, import value reached USD $14.49 billion, displaying a 9.07% year-on-year increase, which industrial materials and capital goods were largely responsible for.

BPS head Suhariyanto expressed hope over Indonesia being able to maintain its achievement in the coming month through the diversification of exported products, and “to create more trade partnerships with non-traditional markets”.

According to RFi Group data, Indonesian businesses see themselves generally having a net increase in the amount of business done. With a relatively positive sentiment amongst Indonesian businesses in terms of increased business done within the country and ASEAN neighbours, it is likely that the country will be able to maintain its achievement.


Source: H2 2017 Indonesia Commercial Banking Council

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