Indonesia: Exports grow at slowest pace in 25 months in November
December 30, 2011
In November, exports grew 8.3% over the same month the previous year, which was considerably below the 17.8% expansion observed in October (previously reported: +16.7% year-on-year). The reading represented, in fact, the slowest pace recorded since September 2009. Non-oil and gas exports, which account for the majority of Indonesian exports, decelerated notably from 20.2% growth in October to just 7.2% in November. Meanwhile, oil and gas exports accelerated from a 7.8% rise in October to a 13.1% expansion in November. Imports expanded 18.4% over the same month the previous year (October: +28.2% yoy). As a result, the trade surplus widened slightly from USD 1.4 billion in October to USD 1.5 billion in November.