Indonesia: Trade surplus recorded in June
July 16, 2018
According to Statistics Indonesia (BPS), Indonesia recorded a trade surplus of USD 1.7 billion in June, a turnaround from the USD 1.5 billion deficit recorded in May. June’s reading was level with the USD 1.7 billion surplus recorded in the same month last year.
Exports expanded 11.5% over the same month last year, down from the revised 13.1% increase recorded in May (previously reported: +12.5 year-on-year). A breakdown of the reading shows that exports of oil and gas output expanded 34.8% in annual terms in June, whereas non-oil and gas sales grew 8.6%.
Imports grew 12.7% year-on-year in June, coming in significantly below May’s 28.2% expansion. The expansion was driven by a 32.1% rise in oil and gas imports but moderated by a 9.0% increase in non-oil and gas imports.
The 12-month moving sum of the trade balance inched up from May’s three-year low of USD 3.0 billion to USD 3.1 billion in June.
Indonesia Trade Balance Forecast
FocusEconomics Consensus Forecast panelists see exports expanding 9.5% in 2018, which would bring exports to a total of USD 9.2 billion. For 2019, the panel sees exports growing 9.7% and reaching a total of USD 10.1 billion.