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.
Author: Nihad Ahmed, Economist