Indonesia reported good trade data on Monday (17/04). Indonesia's Statistics Agency (BPS) announced the nation's exports were worth USD $14.59 billion in March 2017, up 23.55 percent from the same month one year earlier (and the biggest rise since August 2011), on the back of growing oil and gas shipments. Moreover, the pace of Indonesia's export growth in March was nearly two times faster compared to growth recorded in the preceding month as well as the forecast of most analysts.
Oil and gas exports of Indonesia rose 23.56 percent month-on-month (m/m) to USD $1.48 billion in March 2017, while non-oil and gas exports climbed 14.86 percent (m/m) to USD $13.11 billion. In terms of non-oil and gas exports, highest growth originated from (1) mineral fuels, (2) rubber and rubber products, and (3) ore, crust and gray metal exports.
BPS also reported Indonesia's imports climbed 18.19 percent year-on-year (y/y) to USD $13.36 billion in March 2017, also nearly twice as fast compared to import growth in the preceding month and analyst forecasts for March.
In resulted in a USD $1.23 billion trade surplus for Indonesia in March 2017, slightly down from a revised USD $1.27 billion trade surplus in the preceding month. Ever since the start of 2016 Indonesia posted a trade surplus in each month.