Indonesia Trade Balance April 2017


Indonesia: Trade surplus widens in April

May 15, 2017

Indonesia´s trade surplus widened in April as export growth continued to surge. The trade surplus came in at USD 1.2 billion, above April 2016´s USD 0.9 billion. The surplus beat market expectations of a USD 0.9 billion result, but was down slightly from March´s figure.

Looking at a breakdown of the components, exports grew 12.6% over the same month last year, which marked a decline from March´s revised growth of 24.3% (previously reported: +23.2% year-on-year). Non-oil and gas exports, which account for the majority of Indonesian shipments, rose 15.2% in April, lower than March´s revised 24.6% increase (previously reported: +24.0% yoy). Similarly, oil and gas exports increased 9.5% but this marked a significant fall from March´s revised 21.9% (previously reported: +19.5% yoy). Import growth also fell by 7.2 percentage points from the previous month to 10.3% in April.

Meanwhile, the 12-month moving sum of the trade balance improved from a USD 11.5 billion surplus in March to a USD 11.8 billion surplus in April—the best result since May 2012.

FocusEconomics Consensus Forecast panelists expect exports to increase 5.8% and see the trade balance recording a surplus of USD 12.9 billion in 2017. For 2018, the panel expects exports to grow 4.5% and expects the trade surplus to drop to 11.6 USD billion.

Author:, Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m April 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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