Indonesia: Trade surplus falls in November
December 15, 2016
Indonesia’s trade surplus waned in November despite a surge in export growth. Exports soared 21.3% from the same month last year, which was a notable increase from the 5.1% expansion seen in October and marked a multi-year high. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 28.7% in November, above October’s 3.6% increase. Meanwhile, oil and gas exports fell further, contracting 26.3% (October: -23.5% year-on-year). Import growth also accelerated, rising to 9.9% in November from October’s 3.6%.
The trade surplus narrowed in November, falling from September’s USD 1.2 billion to USD 838 million. The result contrasted November 2015’s USD 397 million deficit and overshot market expectations. Meanwhile, the 12-month moving sum of the trade balance improved from October’s USD 6.4 billion surplus to a USD 7.6 billion surplus.