Indonesia posted its widest monthly trade deficit in over five years in November as exports, especially that of palm oil and pulp, slumped, Central Statistics Agency (BPS) data showed on Monday. (Antara Photo/Yudhi Mahatma)
Indonesia's Trade Surplus Shrinks in May
BY :TABITA DIELA
JUNE 15, 2015
Jakarta. The Central Statistics Agency (BPS) announced on Monday that Indonesia’s trade surplus declined between April and May due to a drop in demand for the country's commodities.
The country posted a trade surplus of $950 million in May — its sixth straight surplus — amid weakening imports, said statistics bureau chief Suryamin in his office.
Exports dropped $12.6 billion last month, down 15 percent from a year earlier, due to a drop in demand for the country's oil and gas, as well as other commodities and manufacturing exports.
Imports in May declined to $11.6 billion, down 21 percent from the same period a year earlier.
BPS revised its April trade surplus to $480 million, up from the $450 million surplus it reported a month ago. The agency also revised the figure for April's exports to $13.11 billion, up from $13.08 billion, while imports remained at $12.6 billion.
The biggest non-oil and gas export market for Indonesia so far this year has been the United States ($6.4 billion), Japan ($5.6 billion) and China ($5.4 billion).
Indonesia imported most goods from China ($12.08 billion), Japan ($6.01 billion) and Singapore ($5.53 billion) between January and May. Indonesia’s largest imports are machine and mechanical tools ($9.3 billion), and electrical tools ($6.5 billion).