Indonesia Expects Trade Surplus to Rising in November 2016
14 December 2016 08:30 WIB
TEMPO.CO, Jakarta - Indonesia expects the trade balance to record a surplus for November 2016 as a result of rising commodity prices. Bank Indonesia (BI) projected last month’s balance of trade may reach around US$1.6 billion to US$1.7 billion or an increase compared to October 2016 with a US$1.21 billion surplus and September 2016 with a US$1.22 billion surplus.
Juda Agung, BI’s Executive Director of Economic and Monetary Policy Department, said that improved export volume in manufacture sector has boosted trade surplus as well. He said on Tuesday, December 13, 2016, that the average increase in manufacture export in the past two months was 7% year-on-year (YoY).
Earlier, the Central Statistics Agency (BPS) stated that Indonesia’s trade surplus in October 2016 was US$1.21 billion, meaning that year to date performance is surplus US$6.93 billion. The figure is lower compared to that of last year with US$8.23 billion.
At the same period, import performance has contracted by 7.50%. Imports of consumer goods dropped by 3.86% month-on-month (mom). Whereas raw materials/component and capital goods increased 0.59% and 8.96%, respectively.
Imports of consumer goods increased by 23.95% YoY, while import of raw materials/component jumped 3.47% YoY and imports of capital goods fell by 3.15% YoY.
