JAKARTA (TheInsiderStories) – Indonesia’s trade surplus drops to US$130 million in November from $900 million in previous month as imports grew higher than market expectations. Both exports and imports posted double-digit growth in the value, Statistics Indonesia announced.
The country’s exports reached US$15.28 billion in November, up 13.2 per cent from the same month a year ago and marking an increase of 0.3 per cent from October.
Imports also grew at a rapid pace in November, surged 19.6 per cent year-on-year and up 6.4 per cent from previous month, to US$15.2 billion. That was likewise well ahead of expectations of 13.2 per cent growth.
Those trade flows fell significantly to US$130 million, compared to market forecast of US$920 million forecast.
Cumulatively, the total exports in the eleven months to November grew 17.15 per cent to US$ 153.9 billion, while non-oil and gas exports increased by 16.89 per cent to US$ 139.7 billion.
Indonesia’s largest export markets in November were China valued at $19.13 billion, followed by the United States amounted to $15.72 billion and Japan $13.22 billion
The total imports in the eleven months to November reached $141.88 billion, up 15.47 per cent (yoy). The biggest portion of imports were machines and mechanical planes, and electrical machinery or equipment.
China was the main source of imports, representing 24.46 per cent of total imports in the month, followed by Japan and Thailand, which have not changed since the last few months.
Written by Elisa Valenta, email : email@example.com