Indonesia: Trade surplus increases in January
February 16, 2017
Indonesia’s trade surplus widened in January as export growth surged to the highest rate seen since September 2011. Exports soared 27.7% from the same month last year, which followed the 16.0% expansion seen in December. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 29.2% in January, which was above December’s 18.5% increase. Meanwhile, oil and gas exports returned to expansion for the first time in over two years, increasing 14.8% (December: -3.8% year-on-year). Import growth picked up to 14.5% in January, which was above December’s 5.8% increase and marked the highest growth rate since May 2012.
The trade surplus rose from December’s USD 1.0 billion to USD 1.4 billion in January. The result was notably above January 2016’s USD 140 million surplus and overshot market expectations. Meanwhile, the 12-month moving sum of the trade balance improved from December’s USD 8.8 billion surplus to USD 10.2 billion surplus in January.