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.