Indonesia Records USD $132 Million Trade Surplus in August 2013
Today, Statistics Indonesia (BPS) released Indonesia's export and import figures for the month August 2013. Exports in August amounted to USD $13.16 billion, implying a 12.77 percent decline compared to exports in July 2013, or a 6.31 decline year-on-year. Imports in August 2013 amounted to USD $13.03 billion, a 25.20 percent fall compared to the previous month, or a 5.69 percent fall year-on-year. As such, Indonesia recorded a trade surplus of USD $130 million in August.
The USD $130 trade surplus in August is the first monthly trade surplus in five months. In July, the country recorded a record USD $2.3 billion deficit adding pressures on the country's current account deficit. In the second quarter of 2013, Indonesia's current account deficit stood at USD $9.8 billion, or 4.4 percent of gross domestic product (GDP), mainly due to a large deficit in the country's oil & gas sector.
Exports between January and August 2013 accumulated to USD $119.32 billion, while imports in the same period stand at USD $124.86 billion, implying a USD $5.54 billion trade deficit in the first eight months of 2013.
