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Indonesia trade surplus narrows to $490m in March

Staff writer |
Indonesia recorded a $490 million trade surplus in March of 2016, down sharply from a $1,020 million surplus reported a year earlier.

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In March, exports declined by 13.51 percent year-on-year to $11.79 billion, following a 7.18 percent decrease in February.

It is the 18th straight month of decline, as sales of non-oil and gas products dropped by 9.29 percent to $10.57 billion and those of oil and gas dropped by 38.20 percent to $1.23 billion.

Imports dropped by 10.41 percent year-on-year to $11.30 billion, following a 11.71 percent decline in a month earlier. It is also the 18th consecutive month of fall.

Purchases of non-oil and gas products fell by 5.56 percent to $9.77 billion and those of oil and gas decreased by 32.54 percent to $1.53 billion.

Compared to the previous month, exports increased by 4.25 percent. Oil exports rose 10.40 percent and sales of non-oil and gas products was up by 3.58 percent.

By categories, sales went up for: mineral fuels (+10.10 percent), machine/electrical equipment (+8.0 percent), vehicles and parts (+21.01 percent), chemicals (+29.84 percent) and iron and steel (+88.57 percent).

In contrast, outbound shipments declined for: animal/vegetable fats and oils (-4.82 percent); pearls, precious and semi-precious stones (-23.28 percent), iron and steel articles (-32.15 percent), ships (-19.05 percent) and tins (-43.60 percent).

Outbound shipments rose to the ASEAN countries (+5.77 percent to $2.36 billion), followed by China (+6.98 percent to $1.1 billion), the US (+9.22 percent to $1.25 billion), India (+19.59 percent to $790.4 million), South Korea (+4.78 percent to $426.5 percent) and Taiwan (+5.78 percent to $238.2 million).

In contrast, exports fell to Japan (-3.84 percent to $1.1 billion and Australia (-24.13 percent to $209.0 million).

Compared to a month earlier, imports rose 11.01 percent. Purchases of oil and gas increased by 36.25 percent and those of non-oil and gas was up 7.88 percent.

Imports were down for capital goods (-5.51 percent to $1.70 billion) and consumption goods(-2.77 percent to $977.4 million). In contrast, purchases of raw materials rose 16.90 percent to $8.63 billion.

In February 2016, the country posted a $1,140 million trade surplus.


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