Indonesia: Trade surplus rises in June
July 15, 2016
Exports contracted 4.4% in June over the same month last year, which was a less-pronounced contraction than the 9.7% drop seen in May. June’s result marked the softest drop in exports since October 2014. Non-oil and gas exports, which account for the majority of Indonesian shipments, plunged 2.8% in June, which was a softer drop than May’s 7.1% decrease. Oil and gas exports contracted a staggering 17.6% (May: -31.2% year-on-year). Meanwhile, imports fell 7.4% in June, which followed the 4.1% contraction seen in May.
The trade surplus widened in June, rising from May’s USD 374 million to USD 900 million. In addition, the result was above June 2015’s USD 536 million surplus and overshot market expectations. Meanwhile, the 12-month moving sum of the trade balance rose from a USD 6.4 billion surplus in May to a USD 6.8 billion surplus.