Indonesia’s trade surplus swelled in March

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Jakarta terminalIndonesia’s trade surplus swelled to $1.13 billion in March 2015 from $0.66 billion in the previous month, bolstered by a growing non-oil and gas surplus, while the oil and gas account returned to a deficit, the government announced on April 16.

The non-oil and gas surplus stood at $1.41 billion in the reporting period, up from $0.63 billion, due to 12.5 per cent month-on-month non-oil and gas export growth to a total of $11.72 billion.

Exports consisted of mineral fuels (23.6 per cent month-on-month growth), animal and vegetable fats and oils (9 per cent), jewellery/gems (24.2 per cent), wood and wood derivatives (33.3 per cent) as well as electrical equipment and machinery (10 per cent).

Further gains were stifled, however, by 5.3 per cent growth of non-oil and gas imports to $10.31 billion, comprised of mechanical equipment and machinery, electrical equipment and machinery, motor vehicles and auto components as well as ships and floating structures.

On the other hand, the oil and gas account returned to a deficit of $0.28 billion after registering a $0.03 billion surplus in the previous period due to growing imports of oil and gas that were triggered by an increase in the volume and price of imported crude oil and oil derivatives.

Bank Indonesia considers the first-quarter trade surplus in line with the projected current account deficit, which shrank compared to the preceding period. Bank Indonesia is assured that the future trade structure of Indonesia will become increasingly sound, thereby supporting a recovery in the external balance.

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Reading Time: 1 minute

Indonesia’s trade surplus swelled to $1.13 billion in March 2015 from $0.66 billion in the previous month, bolstered by a growing non-oil and gas surplus, while the oil and gas account returned to a deficit, the government announced on April 16.

Reading Time: 1 minute

Jakarta terminalIndonesia’s trade surplus swelled to $1.13 billion in March 2015 from $0.66 billion in the previous month, bolstered by a growing non-oil and gas surplus, while the oil and gas account returned to a deficit, the government announced on April 16.

The non-oil and gas surplus stood at $1.41 billion in the reporting period, up from $0.63 billion, due to 12.5 per cent month-on-month non-oil and gas export growth to a total of $11.72 billion.

Exports consisted of mineral fuels (23.6 per cent month-on-month growth), animal and vegetable fats and oils (9 per cent), jewellery/gems (24.2 per cent), wood and wood derivatives (33.3 per cent) as well as electrical equipment and machinery (10 per cent).

Further gains were stifled, however, by 5.3 per cent growth of non-oil and gas imports to $10.31 billion, comprised of mechanical equipment and machinery, electrical equipment and machinery, motor vehicles and auto components as well as ships and floating structures.

On the other hand, the oil and gas account returned to a deficit of $0.28 billion after registering a $0.03 billion surplus in the previous period due to growing imports of oil and gas that were triggered by an increase in the volume and price of imported crude oil and oil derivatives.

Bank Indonesia considers the first-quarter trade surplus in line with the projected current account deficit, which shrank compared to the preceding period. Bank Indonesia is assured that the future trade structure of Indonesia will become increasingly sound, thereby supporting a recovery in the external balance.

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