Indonesia trade surplus largest in 14 months
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. ■