Indonesia: Trade surplus remains unchanged in March
May 1, 2012
In March, exports grew 5.5% over the same month last year, which was below the 8.9% expansion observed in February (previously reported: +8.5% year-on-year). Non-oil and gas exports, which account for the majority of Indonesian exports, rose 3.5% in March (February: +4.6% yoy). Meanwhile, oil and gas exports also decelerated from a 28.4% expansion in February to a 14.4% rise in March. Imports increased 13.4% in March, which was below the 26.5% rise in February. As a result, the trade surplus remained broadly unchanged, moving from a surplus of USD 829 million in February to USD 840 million in March, which was up from market expectations of a USD 730 million surplus.