Indonesia posted a trade surplus of 1.21 $billion in September of 2016, compared to a 1.03 billion surplus a year earlier and beating market consensus of a $0.45 billion.
Article continues below
It was the largest trade surplus since July 2015 as exports fell much less than imports.
Year-on-year, sales dropped slightly by 0.59% to $12.51 billion, following a 0.74% decline in August and market expectations of a 1.61% decrease.
While sales of non-oil and gas products increased by 2.85% to $11.45 billion, those of oil and gas dropped by 26.97% to $1.06 billion.
Imports decreased by 2.26 % to $11.56 billion, compared to a 0.49% fall in a month earlier and market consensus of a 3.76% increased. It was the 24th consecutive month of decline.
Purchases of non-oil and gas product decreased 8.8 % to $1.91 billion and those of oil and gas decreased by 0.95 % to $9.65 billion.
Compared to the previous month, exports were down by 1.84%. Oil exports declined 6.78% and sales of non-oil and gas products dropped 1.35%.
By categories, outbound shipments declined for pearls, precious and semi-precious stones (-25.49 percen) and machine/mechanical equipment (-9.38%).
In contrast, sales rose for: fats/vegetable animal oils (+4.11%); ores, crust, metal ash (+94.3 ,percent) and tin (+68.05).
Sales to most of the country's trading partners declined: the ASEAN countries (-3.74%), the EU countries (-0.40%), China (-0.73%), Japan (-5.73%) and South Korea (-7.61%). In contrast, sales rose to the U.S. (+0.09%), India (+9.70%) and Taiwan (+15.45%).
Compared to a month earlier, imports decreased 8.78%. Purchases of oil and gas fell by 2.97% and those of non-oil and gas declined by 9.77%.
Imports declined for all categories: consumption goods (-15.16% to $0.99 billion), raw materials (-7.24% to $8.48 billion), and capital goods (-11.98% to $1.82 billion).
In August 2016, trade surplus was upwardly revised to $0.38 billion. ■
A hyperactive weather pattern will bring an expansive low pressure system across mainland U.S., resulting in widespread impactful weather to progress from west to east across the country through the next few days.