Indonesia February trade surplus surges to $1.14 billion

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Tanjung Priok foto 2 - source Pelindo II

JAKARTA (TheInsiderStories) – Indonesia recorded trade surplus of  $1.14 billion  in February, surged from  trade surplus of US$50.6 million in January, driven by an increase of exports.

In January, trade surplus narrowed to US$50.6 million from a surplus of US$230 million in December 2015.

Data issued by the Central Bureau of Statistics (BPS) showed on Tuesday (March 15) that Indonesia posted exports of $11.30 billion in February, up 7.8 percent from US$10.50 billion in January and fell 7.18 percent from the same month last year.

Imports dropped by 2.9 percent in February to $10.16 billion. compared to US$10.45 billion in January, and  declined 11.7 percent from the same month last year. As a result, Indonesia posted larger trade surplus in the month compared to January 2016.

Non-oil and gas exports February reached $10.19 billion, rose 8.67 percent from US$9.39 billion in January and edged lower 2.5 percent from February 2015.

The total exports in the first two month of 2016 reached US$21.78  billion, declined 14.32 percent compared to the same period in 2015, while the total exports of the non-oil and gas in the two months period totaled US$19.56 billion, fell 9.89 percent.

The largest exports rise was recorded by accessories and precious metals totaling US$593.7 million, while largest decline of exports was recorded by mineral exports.

The largest non-oil gas export destination was the US, which reached US$1.15 billion, followed by Japan US$1.11 billion, China US$0.95 billion. The exports to the three countries represents 31.42 percent of total exports in February. Exports to the 27 countries in euro zone reached US$1.11 billion.

Imports of non-oil and gas stood at US$9.23 billion, or down 10.22 percent from December 2015 and fell 12.09 percent from the same month last year.

Imports of non-oil and gas in February reached US$9.05 billion or down 2.13 percent from January and fell 7.58 percent from February 2015.

Oil and gas imports in February 2016 reached US$1.11 billion or down 8.79 percent from previous month and fell sharply by 35.21 percent in February 2015, in line with the fall of crude oil price.

The cumulative imports in January-February reached US$20.63 billion, fell 14.48 percent from the same period in 2015.

China was the largest source of imports of Indonesia in February, amounting to US$4.87 billion (26.65 percent of total), indicating the importance of Indonesia and China trade relationship, followed by Japan amounting to US$1.92 billion (10.50 percent), Thailand worth US$1.48 billion (8.11 percent).

Imports of non-oil and gas from ASEAN reached 22.22 percent, while imports from Euro zone representing 9.68 percent of Indonesia’s imports in February. (*)

 

 

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Source: The Insiderstories
Indonesia February trade surplus surges to .14 billion

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