Indonesia`s Trade Balance Sees US$8.78 Billion Surplus

Indonesia posts US$8.78 billion trade surplus in 2016.

Jakarta, 18 Rabiul Akhir 1438/17 Januari 2017 (MINA) – Indonesias 2016 trade balance saw a surplus of US$8.78 billion compared to 2015, driven by a 1.99 percent rise in exports during December, Antara reported, citing the Central Statistics Agency (BPS).

According to BPS Chief Kecuk Suhariyanto on Monday, Indonesia’s exports reached $144.43 billion, while its imports stood at $135.65 billion.

He added that the trade surplus in 2016 was higher than in the previous year, when it was recorded at $7.67 billion.

The 1.99 percent rise in December 2016 exports to $13.77 billion saw a 1.13 percent increase for non-oil and non-gas exports to $12.54 billion, while oil and gas exports increased by 11.66 percent to $1.231 billion compared to the previous month.

Also Read: Jokowi Urges Nations to Work Together Against 'Evil Winter'

Among the non-oil and non-gas commodities, mineral fuels recorded the highest increase in December 2016 with a value of $140.6 million, up 9.06 percent from the previous month.

The increase in oil and gas exports was attributed to the rise in crude oil exports, which increased by 10.67 percent to $443.9 million. Oil product exports also increased by 30.69 percent to $91.4 million, while natural gas exports increased by 10.18 percent to $696.4 million.

However, the BPS also noted that the overall value of Indonesia’s exports in 2016 fell 3.95 percent compared to the previous year. (T/RS05/RS01)

Mi’raj Islamic News Agency (MINA)