Indonesia Trade Balance February 2017


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.

FocusEconomics Consensus Forecast panelists expect exports to increase 1.4% and see the trade balance recording a surplus of USD 10.5 billion in 2017. For 2018, the panel expects exports to grow 3.0% and expects the trade surplus to drop to USD 9.9 billion.

Author: Angela Bouzanis, Senior Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m February 2017

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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