Indonesia Trade Balance September 2017


Indonesia: Trade surplus rises in September

October 16, 2017

According to Statistics Indonesia (BPS), a trade surplus of USD 1.8 billion was recorded in September (September 2016: USD 1.3 billion), handily beating the USD 1.2 billion surplus that market analysts had expected.

Exports grew 15.6% annually in September, slowing from the 19.4% expansion recorded in August. However, imports accelerated, growing 13.1% annually, after a more modest expansion of 9.1% in August.

Breaking down the export reading, oil and gas exports soared 35.6% annually in September, thanks to higher commodities prices (August: +12.1% year-on-year). Non-oil and gas exports—which constitute the lion’s share of overseas shipments—rose 13.8% (August: +20.1% yoy).

The 12-month moving sum of the trade balance edged up from August’s USD 13.5 billion surplus to a USD 14.0 billion surplus in September.

FocusEconomics Consensus Forecast panelists expect exports to increase 5.0% and see the trade balance recording a surplus of USD 11.7 billion in 2018. For 2019, the panel expects exports to grow 9.9% and expects the trade surplus to drop to USD 11.5 billion.

Author: Angela Bouzanis, Senior Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m September 2017

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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