Indonesia Trade Balance December 2015


Indonesia: Trade deficit narrows in December

January 15, 2016

Exports contracted 17.7% in December over the same month last year, which was broadly in line with the 18.0% drop seen in November. December’s result marked the eighth consecutive double-digit loss. Non-oil and gas exports, which account for the majority of Indonesian shipments, dropped 13.7% in December (November: -16.5% year-on-year). Oil and gas exports contracted a staggering 44.8% (November: -28.9% yoy). Meanwhile, imports fell 16.0% in December, which was up slightly from the 18.0% contraction seen in November.

The trade deficit narrowed from USD 408 million in November to USD 236 in December. This result contrasted the roughly balanced trade account recorded in the same month of 2014 and the USD 100 million surplus the market had expected. Meanwhile, the 12-month moving sum of the trade balance narrowed from a USD 7.8 billion surplus in November to a USD 7.5 billion surplus in December.

FocusEconomics Consensus Forecast panelists expect exports to increase 2.8% and see the trade balance reaching a surplus of USD 10.0 billion in 2016. For 2017, the panel expects exports to grow 10.4% and expects the trade surplus to reach USD 10.5 billion.

Author:, Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m December 2015

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Statistics Indonesia (BPS) and FocusEconomics calculations.

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