Indonesia: Trade surplus expands on robust export growth in March
April 29, 2011
In March, exports grew 25.6% over the same month last year to reach USD 16.7 billion, which was slightly down from the 27.3% expansion observed in February (previously reported: +28.2% year-on-year). The March reading represented the 17th consecutive month of double-digit growth in exports, suggesting that the international appetite for Indonesian goods remains elevated. The slower expansion reflected more subdued growth in non-oil and non-gas exports, which decelerated from a 28.9% increase in February to expand 21.9% in March. On the other hand, oil and gas exports gained pace and expanded 43.8% over the same month the previous year (February: +20.3% yoy). Meanwhile, imports slowed, falling from a 37.2% year-on-year increase in February to a 32.9% expansion in March to reach USD 14.5 billion. As a result, the trade surplus widened from USD 2.0 billion in February to USD 2.2 billion in March.