Indonesia Trade Balance May 2016


Indonesia: Trade surplus narrows in May

June 15, 2016

Exports contracted 9.8% in May over the same month last year, which was a less-pronounced contraction than the 12.4% drop seen in April. Non-oil and gas exports, which account for the majority of Indonesian shipments, plunged 7.1% in May, which was a softer drop than April’s 9.1% decrease. Oil and gas exports contracted a staggering 31.2% (April: -38.8% year-on-year). Meanwhile, imports fell 4.1% in May, which followed the notable 14.4% contraction seen in April.

The trade surplus narrowed in April, decreasing from April’s USD 662 million to USD 376 million. In addition, the result was below May 2015’s USD 1.1 billion surplus and undershot market expectations. Meanwhile, the 12-month moving sum of the trade balance fell from a USD 7.2 billion surplus in April to a USD 6.4 billion surplus in May.

FocusEconomics Consensus Forecast panelists expect exports to decrease 11.0% and see the trade balance tallying a surplus of USD 8.3 billion in 2016. For 2017, the panel expects exports to grow 14.8% and expects the trade surplus to drop to USD 6.7 billion.

Author: Angela Bouzanis, Senior Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m May 2016

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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