Indonesia: Trade surplus increases in February
March 15, 2017
Indonesia’s trade surplus widened in February as export growth remained robust. The trade surplus came in at USD 1.3 billion, above February 2016’s USD 1.1 billion. The surplus beat market expectations of a USD 1.2 billion result, but was down slightly from January’s figure.
Looking at the details, exports posted strong growth of 11.2% over the same month last year, which followed January’s 27.9% surge. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 11.5% in February, which was below January’s 29.4% increase. Meanwhile, oil and gas exports grew for a second consecutive month, expanding 7.6%, after over two years of contractions (January: +14.8% year-on-year). Import growth eased from 14.3% in January to 10.6% in February.
Meanwhile, the 12-month moving sum of the trade balance improved from a USD 10.3 billion surplus in January to a USD 10.4 billion surplus in February.