Ministry of Finance of Republic of Indonesia : Indonesia’s Trade Balance Recorded Surplus of USD7.52 Billion in 2015

Jakarta, 21/01/2016 MoF - In overall, Indonesia's trade balance in 2015 recorded surplus of USD7.52 billion, which improved from its position in 2014, namely deficit of USD1.88 billion.

According to Bank Indonesia (BI), this improvement in 2015 was boosted by increased surplus in non-oil and gas trade balance and decreased deficit in oil and gas trade balance. 'Improvements in trade balance strongly improved the performance of Indonesia's current account, which was estimated to be better than the previous year and stood at a safe level,' says Executive Director of Communication Department of BI Tirta Segara in his official statement.

Previously, he stated that Indonesia's trade balance had deficit of USD0.23 billion in December 2015, which was better than the position in the previous month, namely deficit at USD0.41 billion. The improvement in December 2015 was boosted by surplus in non-oil and gas trade balance. 'On the other side, deficit in oil and gas trade balance rose from its position in the previous month,' he adds.

Non-oil and gas trade balance in December 2015 recorded surplus of USD0.27 billion after having deficit of USD0.27 billion. This surplus was boosted by the growth in non-oil and gas export of 10.12 percent (mtm), which was higher than the growth in non-oil and gas import of 4.50 percent (mtm).

In terms of non-oil and gas export, the growth happened to fats and animals/vegetable oils commodity and other commodities, such as clothing except knitwear; metal ores, slag, and ash; pulp; and tin. 'Meanwhile, the growth in non-oil and gas import was boosted by increasing commodity import of machinery and mechanical tools, iron and steel, organic chemicals, ship and floating construction, and weapon/ammunition,' he says.

On the other side, oil and gas trade balance in December 2015 recorded deficit of USD0.50 billion, which was higher than deficit of USD0.14 billion in November 2015. Oil and gas trade balance decreased due to oil and gas export decrease of 13.20 percent (mtm), while at the same time, oil and gas import rose by 9.61 percent (mtm). (nv)