JAKARTA (RambuEnergy.com) – Indonesia recorded trade surplus of US$470 billion in May, cut more than half from surplus of US$1.24 billion in April, but improved from the same month last year, data from the Central Bureau of Statistics (BPS) shows.
The slump in trade surplus was driven by increasing imports ahead of fasting month and Lebaran festivity.
In May, Indonesia booked exports of US$14.29 billion, while imports were US$13.82 billion, resulting in a trade surplus.
Exports in May rose 7.62% from previous month, but rose 24.08% from the same month last year.
Non-oil and gas exports reached US$13.02 billion, up 6.37% compared to April 2017, but rose 23.34% from May 2016.
Indonesia’s exports in January-May 2017 reached US$68.26 billion, increased 19.93% from the same period in 2016, while non-oil and gas exports reached US$61.98 billion, rose 20.10%.
The largest exports value in May was exports to the US worth US$1.53 billion, followed by China US$1.51 billion and India US$1.28 billion. The three exports destinations contributed 33.14% to total exports, while exports to EU reached US$1.39 billion.
Imports in May rose 15.67% from previous month to US$13.82 billion, and surged 24.03% from the same month last year.
Non-oil and gas imports in May increased 16.49% to US$12.0 billion from previous month, but surged 26.65% from May 2016.
Oil and gas imports in May reached US$1.82 billion, up 10.54% from April, but rose 9.1% from the same month last year.
In January-May, imports from China was on top of the list amounting to US$13.67 billion (26.12%), followed by imports from Japan worth US$5.82 billion (11.12%) and Thailand US$3.77 billion (7.21%). (*)