In May, the Indonesian Trade Balance Surplus of 0.95 Billion Dollars

In May, the Indonesian Trade Balance Surplus of 0.95 Billion Dollars

Indonesia’s trade balance in May 2015 again recorded a surplus of 0.95 billion US dollars. Performance of the positive trade balance supported by the increase in non-oil and gas balance surplus and the reduction in oil and gas balance deficit.

The trade balance surplus in May 2015 is higher than in the previous month surplus of 0.48 billion US dollars.

“The performance of the trade balance in May 2015 is also better than the performance in May 2014 which recorded a surplus of 0.05 billion US dollars,” said Executive Director of Communications Department of Bank Indonesia (BI) Tirta Segara in a press release on Monday (15/6) .

According to Tirta, non-oil and gas trade surplus in May 2015 increased to 1.66 billion dollars from 1.36 billion in the previous month. The increase in non-oil and gas balance surplus, Tirta said, affected by the decline in non-oil and gas imports was sharper than the decline in non-oil and gas exports.

“Non-oil and gas exports contracted by 3.9 percent (mtm) to 11.19 billion US dollars, mainly because of the decline exports of fats and oils of animal/vegetable, mineral fuels, machinery/ electrical equipment, rubber and rubber goods, and vehicles and parts”, Tirta said.

Decline in export performance, Tirta continued, is also accompanied by a decrease in non-oil and gas imports by 7.4 percent (mtm) to 9.53 billion dollars, mainly due to a decrease in imports of machinery and mechanical equipment, machinery and electrical equipment, as well as iron and steel.

Bank Indonesia also noted, the performance of oil and gas trade balance also improved due to the trade deficit decreased to 0.71 billion dollars from 0.88 billion dollars in the previous month.

“The decline in the deficit was affected by the decline in oil and gas exports of amounted to 6.0 percent (mtm), accompanied by a decrease in oil and gas imports over the 10.9 percent (mtm),” Tirta said.

According to Tirta, oil and gas exports in May 2015 period was recorded at 1.37 billion US dollars, lower than the previous period amounted to 1.46 billion US dollars, in line with the reduction in the export of oil and gas.

Meanwhile, oil and gas imports dropped from 2.34 billion dollars in the previous month to 2.08 billion US dollars, mainly due to lower imports of crude oil, oil products and gas.

“Bank Indonesia views that the trend of trade surplus in May 2015 is very positive in favor of the current account second quarter of 2015,” Tirta said.

Bank Indonesia estimates that Indonesia’s trade balance structure in the future will be healthier and the more support the recovery process of Indonesia’s external balance. (Puskom BI/ES)