Indonesia Trade Balance March 2017


Indonesia: Trade surplus rises to three-month high in March

April 17, 2017

Indonesia’s trade surplus widened in March as export growth surged. The trade surplus came in at USD 1.2 billion, above March 2016’s USD 0.5 billion. The surplus beat market expectations of a USD 1.0 billion result.

Looking at the details, exports posted strong growth of 23.2% over the same month last year, which followed February’s 11.5% surge. Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 24.0% in March, which was a notable improvement from February’s 11.9% increase. Meanwhile, oil and gas exports jumped 19.5%, continuing to recover after over two years of contractions (February: +7.6% year-on-year). Import growth also rose from February’s 11.6% to 18.2%, the largest expansion since February 2012.

Meanwhile, the 12-month moving sum of the trade balance improved from a USD 10.4 billion surplus in February to a USD 11.1 billion surplus in March—the best result since June 2012.

FocusEconomics Consensus Forecast panelists expect exports to increase 3.1% and see the trade balance recording a surplus of USD 11.1 billion in 2017. For 2018, the panel expects exports to grow 3.5% and expects the trade surplus to drop to USD 10.0 billion.

Author: Angela Bouzanis, Senior Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m March 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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