Indonesia records moderate trade deficit in August

JAKARTA (Rambu Energy) – Indonesia posted exports of US$14.475 billion, up 2.48 percent from July 2014 and increased by 10.63 percent from August 2013. Non oil-and-gas exports reached US$11.88 billion, up 2.14 percent from July 2014 and up 14.61 percent from August 2013.

Imports reached US$14.793 billion in August, up 5.05 percent from July 2014 and up 13.69 percent from August 2013. Therefore, Indonesia recorded trade deficit of US$318 million, compared to surplus of US$42 million in previous month.

Indonesia’s exports in the first eight months to August reached US$117.42 million, down 1.52 percent from 2013, while non oil-and-gas exports reached US$96.64 billion, down by 1.29 percent the same period last year.

The biggest non oil-and-gas exports in August were automotive and auto parts valued at US$106.4 million (28.54 percent). The biggest decline in exports was recorded by vegetable oil at  US$343.9 million (17.78 percent).

Imports in August stood at US$14.793 billion, up 5.05 percent from July and increased by 13.69 percent from August 2013. Non oil-and-gas imports in the month reached US$11.39 billion, representing an increase of 14.99 percent from July 2014 and rose by 21.99 percent August 2013.

Oil and gas imports in August stood at US$3.4 billion, down 18.54 percent from 2013. The combined oil-gas imports in January-August reached US$29.37 billion (down 1.83 percent) and imports of non oil-and-gas during the period was recorded at  US$89.46 billion (down 5.76 percent).

Majority of imports were machinery and equipments worth US$2.31 billion, which was 21.15 percent higher from July 2014.
Indonesia mostly imported from China worth US$2.39 billion (20.94 percent), Japan US$1.53 billion (13.4 percent), and Thailand US$0.90 billion (7.89 percent). Non-oil and gas from the ASEAN countries contributed 21.96 percent of the total imports, while EU contributed 9.32 percent.

“Within non-oil and gas products, there was a pick up in exports of vehicles and parts, and engine & electrical equipment,” said ANZ’s Chief Economist for South Asia, Asia Pacific and Pacific, Glenn Maguire. (*)