No. 19/ 21 /DKom
Indonesia’s trade balance records a surplus in February 2017, particularly supported by the continuous surplus in non-oil and gas trade balance. Indonesia’s trade balance surplus of 1.32 billion US Dollar in February 2017 is lower than that in the previous month of 1.43 billion US Dollar. Such lower surplus is attributable to the increasing deficit in oil and gas trade balance, exceeding the increase in the non-oil and gas trade balance surplus.
Non-oil and gas trade balance surplus in February 2017 is recorded 2.55 billion US Dollar, higher than that in the previous month of 1.99 billion US Dollar. The increasing surplus is attributable to non-oil and gas import decrease by 1.31 billion US Dollar, exceeding non-oil and gas export decrease by 0.75 billion US Dollar. Non-oil and gas import decrease is primarily caused by the decreasing imports of machinery and mechanical devices, machinery and electrical devices, plastics and plastic goods, weapons and ammunitions, and jewelleries/gemstones. Meanwhile, non-oil and gas export decrease is primarily attributable to the decreasing exports of animal/vegetable fat and oil, mineral fuel, iron and steel, ore, clinker, and metal ash, as well as copper.
In oil and gas, the trade balance deficit increases from 0.56 billion US Dollar in January 2017 to 1.23 billion US Dollar in February 2017. Such increasing deficit is attributable to oil and gas import increase by 0.60 billion US Dollar, while oil and gas export decreases by 0.07 billion US Dollar.
Bank Indonesia considers that the trade balance in February 2017 shows positive performance to support the performance of current transactions. Bank Indonesia consistently observes global and domestic economic development, particularly such development that can affect trade balance performance, and makes efforts to maintain the continuous, satisfactory implementation of domestic economic activities.
Jakarta, 15 March 2017