Indonesia Posts a Surge in Trade Surplus as Imports Decline

Indonesia sees a surplus of US$670 million in trade balance in April 2016

Jakarta, 10 Sya’ban 1437/18 May 2016 (MINA) – Indonesia booked a US$ 670 million trade surplus in April 2016, primarily caused by a bigger-than-expected decline in imports.

Most analysts expected to see a monthly trade surplus around USD $200 million last month. In the first four months of 2016, Indonesia’s trade balance has now accumulated into a US$ $2.3 billion trade surplus.

Although the surplus is positive, there remain deep concerns about the persistently falling import and export figures.

According to data released by the Central Statistics Agency ( BPS ) on Monday, Indonesian exports slid 3.1 per cent from March and 12.7 per cent year-on-year to US$11.45 billion due to declining exports of coal caused by the end of winter in the Northern Hemisphere.

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The country imported US$10.78 billion worth of commodities in April, down 4.6 per cent from March and 14.6 per cent from the same period last year as there was lower domestic demand for food imports, especially wheat and sugar.

Indonesia’s Antara News reported that a majority of the country’s non-oil commodity imports were shipped from China, worth US$9.65 billion or 26 per cent of its total imports. Its second biggest trader was Japan (US$4.1 billion), who was followed closely by Thailand (US$3.05 billion).

The country has seen a US$2.3 billion trade surplus in the first four month of the year with exports totalling US$45.1 billion and imports worth US$42.7 billion. (T/R07/R01)

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Mi’raj Islamic News Agency (MINA)