Indonesia’s exports surged in December 2013

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Indonesia exportIndonesia posted its third straight monthly trade surplus in December 2013 and its biggest in two years, the country’s statistics bureau said on February 3.

The trade surplus in December totalled $1.52 billion, the largest since December 2011. That followed a revised $790 million surplus in November 2013.

Indonesia’s rupiah slid more than 20 per cent in 2013, hit by investor unease about the country’s high current account deficit and the impact of a reduction in US monetary stimulus. But the rupiah has held largely steady so far in 2014, helped in part as the Indonesian central bank has raised interest rates aggressively since June 2013.

Bank Indonesia, the central bank, estimates the overall 2013 current account deficit would be below 3 per cent of gross domestic product, due to improving demand in the fourth quarter.Exports in December surged 10.33 per cent from a year earlier, versus analysts’ expectations for a 1.80 per cent rise, while imports fell 0.79 per cent, against a forecast 3.60 per cent drop. For the whole year of 2013, exports fell 3.92 per cent and imports dropped 2.64 per cent.

Meanwhile, Indonesia’s consumer price index rose 8.22 per cent in January from a year earlier, the statistics bureau also said today, after torrential rain and natural disasters disrupted activity.Core inflation, which excludes administered prices and volatile food prices, quickened to 4.53 per cent in January, mainly due to the weakening of the rupiah.

For 2013, inflation surged to 8.38 per cent following a surge in fuel prices and disruptions to the food supply stemming from adverse weather.

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Reading Time: 2 minutes

Indonesia posted its third straight monthly trade surplus in December 2013 and its biggest in two years, the country’s statistics bureau said on February 3.

Reading Time: 2 minutes

Indonesia exportIndonesia posted its third straight monthly trade surplus in December 2013 and its biggest in two years, the country’s statistics bureau said on February 3.

The trade surplus in December totalled $1.52 billion, the largest since December 2011. That followed a revised $790 million surplus in November 2013.

Indonesia’s rupiah slid more than 20 per cent in 2013, hit by investor unease about the country’s high current account deficit and the impact of a reduction in US monetary stimulus. But the rupiah has held largely steady so far in 2014, helped in part as the Indonesian central bank has raised interest rates aggressively since June 2013.

Bank Indonesia, the central bank, estimates the overall 2013 current account deficit would be below 3 per cent of gross domestic product, due to improving demand in the fourth quarter.Exports in December surged 10.33 per cent from a year earlier, versus analysts’ expectations for a 1.80 per cent rise, while imports fell 0.79 per cent, against a forecast 3.60 per cent drop. For the whole year of 2013, exports fell 3.92 per cent and imports dropped 2.64 per cent.

Meanwhile, Indonesia’s consumer price index rose 8.22 per cent in January from a year earlier, the statistics bureau also said today, after torrential rain and natural disasters disrupted activity.Core inflation, which excludes administered prices and volatile food prices, quickened to 4.53 per cent in January, mainly due to the weakening of the rupiah.

For 2013, inflation surged to 8.38 per cent following a surge in fuel prices and disruptions to the food supply stemming from adverse weather.

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