Indonesia: Trade surplus rises in September
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated. Exports fell 0.6% from the same month last year, which contrasted the slim 0.2% expansion seen in August. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 2.9% in September, which was below August’s 3.7% increase. Meanwhile, oil and gas exports fell further, contracting 27.0% (August: -25.6% year-on-year). Imports deteriorated, contracting 2.3% in September, following a more tepid 0.1% fall in August.
As the deterioration in imports outweighed exports, the trade surplus rose in September, rising from August’s USD 363 million to USD 1.2 billion. In addition, the result was above September 2015’s USD 1.0 billion surplus and overshot market expectations. Meanwhile, the 12-month moving sum of the trade balance improved from August’s USD 5.9 billion surplus to a USD 6.1 billion surplus.