Indonesia Trade Balance December 2016


Indonesia: Trade surplus rises in December

January 16, 2017

Indonesia’s trade surplus rose in December as export growth remained strong and imports decelerated. Exports soared 15.6% from the same month of the previous year, which followed a 21.4% expansion seen in November. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 18.1% in December, below November’s 28.8% increase. Meanwhile, oil and gas exports recorded a smaller shortfall than in November, falling 5.2% in December (November: -26.3% year-on-year). Import growth eased from November’s 10.0% to 5.8% in December.

The trade surplus rose from November’s USD 834 million to USD 992 million in December. The result contrasted December 2015’s USD 160 million deficit and overshot market expectations. For the full year 2016, the trade surplus was USD 8.8 billion, an improvement from 2015’s USD 7.7 billion.

FocusEconomics Consensus Forecast panelists expect exports to increase 3.2% and see the trade balance recording a surplus of USD 9.9 billion in 2017. For 2018, the panel expects exports to grow 4.4% and expects the trade surplus to drop to USD 9.0 billion.

Author: Angela Bouzanis, Senior Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m December 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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