JAKARTA (TheInsiderStories) – Indonesia’s trade surplus recorded US$1.72 billion in August 2017, broke records in more than five years thanks to exports in manufacturing and mining goods, the Central Bureau of Statistics announced.
The trade surplus in August driven by $2.4 billion surpluses in non-oil and gas sector while the oil and gas sector still posted the deficit of $682.6 million.
Considering January to August 2017, the trade surplus was recorded $9.11 billion with exports stands at $92.53 billion or rising by 17.58 percent compared to the same period a year earlier to $108.8 billion while imports increasing by 14.06 percent to $84.33 billion.
On trade volume, Indonesian trade in August 2017 posted the surplus of 33.50 million tons, with non-oil and gas surplus reaching 34.21 million tons while trading in oil and gas experienced a deficit of 716.300 tons.
The exports were increased 19.24 percent from a year earlier to $15.21 billion in August of 2017. The August exports back to normal as well as become the highest value in this year after the export in the previous month fell $3.46 billion due to the long holiday.
Compared to the previous month, the exports go up 17.58 percent, as non-oil and gas products increased by 11.93 percent while sales oil exports grew by 9.61 percent. Most sales in August to the other regions grew positive month-to-month such as ASEAN countries (9.69 percent), euro zone (1.78 percent), USA (15.92 percent), China (21.59 percent), India (13.68 percent) while export to Japan decreased 5.63 percent.
The cumulative value of Indonesian exports in January-August 2017 reached $108.8 billion or an increase of 17.58 percent over the same period in 2016, while non-oil exports that contribute 90.78 percent of total exports reached $98.76 billion, an increase of 17.73 percent.
According to the sector, non-oil & gas exports for manufacturing industry increased 14.85 percent in January-August 2017, as well as exports of agricultural products rose 23.22 percent and exports of mining and other products increased 35.55 percent.
Meanwhile, Indonesia imports in August 2017 fell 2.88 percent compared to June 2017 but increased 8.89 percent when compared to August 2016.
Non-oil & gas imports in August 2017 reached $11.53 billion, declined 4.8 percent from June 2017 but grew 8.85 percent from August last year. Oil and gas imports in August 2017 reached $1.96 billion or up 10.16 percent from previous month and grew 9.11 percent from June last year.
The country’s largest non-oil/gas imports supplier during January-August 2017 was China with $21.88 billion (12.44 percent), Japan $9.69 billion (15.04 percent) and Thailand $6.13 billion (3.83 percent).
The import value of all categories of good use of consumer goods, raw materials/auxiliaries and capital goods during January-August 2017 increased 11.76 percent, 15.43 percent, and 9.09 percent respectively, compared to the corresponding period of last year.
Writing by Rahmat Fiansyah, Email: email@example.com