JAKARTA (TheInsiderStories) – Indonesia posted trade deficit of US$350 million in November, after posting trade surplus of US$1.01 billion in October and September, driven by a rise in imports towards the end of the year.
The deficit was partly due to a rise in investment, which prompted companies and investors to import capital goods and equipment.
Data issued by the Central Bureau of Statistics (BPS) showed on Tuesday that Indonesia posted exports of US$11.16 billion in the November, down 7.91 percent from previous month and dropped 17.58 percent from the same months last year.
Imports rose by 3.61 percent in November from previous month to US$11.61 billion. This led a trade deficit after recording surplus in October. In September, the country also recorded trade surplus of US$1.02 billion.
Non-oil and gas exports reached $9.58 billion, down 11.81 percent from October 2015 and 16.75 percent lower compared to the same month last year.
Accumulatively, Indonesia’s exports in January to November reached $138.42 billion, fell 14.32 percent from the same period in 2014, while non-oil and gas exports rose 9.43 percent to $121.08 billion.
The largest exports decline was recorded by CPO, which was recorded at $152.8 million, down 9.76 percent from previous month, while the sharp increase was recorded by shoe exports, amounting to US$65.3 million or up 17.72 percent.
US was the top exports destination in November worth $1.16 billion, followed by exports to China at $1.02 billion and Japan at $0.99 billion. The combined exports value to the three countries represented 33.07 percent to total exports in the month. Exports to the 27 countries in EU reached $1.12 billion.
On year-on-year basis, imports in November was 18.0 percent lower at $11.51 billion. Non-oil and gas imports totaled $9.87 billion, rose 5.6 percent from previous month, but dropped 6.62 percent from November 2014. Oil and gas imports reached $1.64 billion, down 6.95 percent from October 2015 and plunged by 52.76 percent from November last year.
The total imports in January to November reached US$130.61 billion or down 20.24 percent from the same period last year. During the 11 months period, cumulative imports reached $22.24 percent, down 43.06 percent from last year and non-oil and gas imports totaled $107.79 billion, down 12.84 percent. (*)