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Based on the latest data from Indonesia's Statistics Agency (BPS), released on Monday morning (15/05), Indonesia's export and import performance in April 2017 slightly weakened compared to the performance in the preceding month but remains in much better shape than it was in April one year ago. The nation's April trade surplus is USD $1.24 billion, smaller than the revised USD $1.39 billion surplus in the preceding month but still exceeding analysts' forecasts.
Indonesia's exports were recorded at USD $13.17 billion in April 2017, down 10.3 percent month-on-month (m/m) compared to March, but up 12.6 percent year-on year (y/y) compared to April 2016.
On a monthly basis, Indonesia's export performance fell due to falling non-oil & gas exports (specifically a steep decline in animal fat and oil exports), while crude oil exports fell a whopping 50.7 percent (m/m) to USD $302.5 million, and gas fell 18.1 percent (m/m) to USD $587.2 million. But also in terms of volume exports of crude oil and gas fell: 43.7 percent (m/m) and 24.3 percent (m/m), respectively.
Indonesia's non-oil & gas exports in April declined 7.4 percent (m/m) to USD $12.19 billion. However, the figure is a 12.9 percent (y/y) improvement compared to non-oil & gas exports in the same month one year earlier.
Combined, in the first four months of 2017, Indonesia exported a total of USD $53.9 billion of goods, up 18.6 percent compared to USD $48.90 billion in the same period one year earlier, driven by a 19.1 percent (y/y) recovery in non-oil & gas exports.
Most of Indonesia's April 2017 non-oil & gas exports were shipped to China (USD $1.57 billion), followed by the USA (USD $1.36 billion), the European Union (also USD $1.36 billion), and India (USD $1.19 billion).
Meanwhile, imports into Indonesia rose 10.3 percent (y/y) to USD $11.93 billion in April 2017, but fell 10.2 percent (y/y) on a monthly basis. Non-oil & gas imports stood at USD $10.32 billion, down 6.3 percent (m/m) but up 9.2 percent (y/y) compared to the same month one year earlier. Imports of consumer goods grew nearly 26 percent (y/y) but increases in imports of capital goods and raw materials were smaller.
Lastly, imports of oil & gas into Indonesia fell 29.3 percent (m/m) to USD $1.61 billion in April but rose 18.3 percent (y/y).