Indonesia Posts a Record Trade Surplus of USD 497 Million

Jakarta, 11 Rajab 1437/17 April 2016 (MINA) – Indonesias balance of trade recorded a surplus of US$497 million in March 2016 with exports reaching $11.79 billion and imports touching $11.30 billion, the Central Statistics Agency (BPS) said.

“The monthly surplus fell slightly but (the balance of trade) continued to record a surplus every month,” BPS Chief Suryamin said here on Friday.

The $497 million surplus resulted from trade in the non-oil/non-gas sector which enjoyed a surplus of $797.7 million, while trade in the oil/gas sector suffered a deficit of $300.7 million, he said.

In terms of volume, the balance of trade also saw a surplus of 28.36 million tons, resulting from a surplus of 29.02 million tons from trade in the non-oil/non-gas sector, while trade in the oil/gas sector recorded a deficit of 0.66 million tons, Mi’raj Islamic News Agency (MINA) reported, quoting Antara.

“Cumulatively, it (the surplus) increased when compared with 2013 but declined in comparison with 2015,” he said.

The balance of trade with China, which is Indonesia’s main partner, recorded a deficit of $4.29 billion in the January-March 2016 period. Just in March, the deficit reached $1.24 billion, he said.

Indonesia also saw the trade deficit with Thailand expanding to $1.30 billion in the first three months of 2016 and $515.6 million just in March.

However, Indonesias trade with the United States recorded a surplus of $2 billion in the first quarter of 2016 and $643.1 million in March alone.

Indonesias exports in March 2016 rose 4.25 percent to $11.79 billion from $11.31 billion a month earlier. Compared to the same month last year, the exports in March 2016 fell by 13.51 percent.

Meanwhile, imports in March 2016 reached $11.30 billion, up 11.01 percent from $10.17 billion in February 2016. However, the March 2016 imports tumbled 10.41 percent compared with the same month last year. (T/R07/R01)

Mi’raj Islamic News Agency (MINA)