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Indonesia trade surplus narrows in August as imports grew faster than exports

(Image : Pelindo II)
(Image : Pelindo II)

JAKARTA (rambuenergy.com) – Indonesia posted trade surplus in August valued at US$430 million, narrowed from a revised trade surplus of US$1.3 billion in July as imports in the month accelerates compared to the exports figure. The trade surplus is the ninth straight month, the Central Bureau of Statistics (BPS) reported.

The country’s exports in the month reached US$12.70 billion, increased 10.79 percent from July, but fell 12.28 percent compared to the same month last year. Imports reached US$12.27 billion, surged 21.69 percent from previous month, but dropped by 17.06 percent in August 2014, the BPS data shows.

Non-oil and gas exports totaled US$11.17 billion, increased 11.23 percent from July 2015, but fell 5.99 percent compared to the same month last year. The cumulative exports figure in January-August 2015 reached $102.52 billion, or declined 12.7 percent, while non-oil and gas exports reached $89.6 billion or fell 7.3 percent.

Non-oil and gas imports reached $10.16 billion in the month, increased 30.48 percent from July 2015, but declined 10.82 percent from the same month last year. The cumulative imports in the eight months to August reached $96.3 billion or dropped 18.96 percent compared to the same period last year.

The cumulative oil and gas imports reached $17.50 billion in August, fell 40.41 percent from a year earlier, while non-oil and gas cumulative imports reached $78.8 billion or fell 11.92 percent.

United States was the biggest export destination in August valued at $1.33 billion, followed by China ($1.11 billion), Japan (1.05 billion). The value of exports to the three countries reached 31.24 percent of Indonesia’s non-oil and gas exports. Exports to the 27 EU countries reached $1.23 billion.

The Head of BPS Suryamin said China remained as the biggest export destination in the eight months to August, with exports value of $19.2 billion (24.13 percent of total exports), followed by Japan valued at 9.15 billion (11.62 percent) and Singapore $5.81 billion (7.34 percent of total exports). (*)

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