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Indonesia records 4-year biggest trade surplus of $7.13b

Indonesia’s trade surplus reached US$7.13 billion in the first nine months of 2015, which was the biggest trade surplus from January to September in the last four years, according to Central Statistics Agency (BPS) data released on Thursday.

According to the agency, the latest January-September (year-to-date) surplus was at September 2012 worth $1.02 billion. Indonesia recorded a deficit worth $6.4 billion (Jan.-Sept. 2013) and $1.7 billion (Jan.-Sept. 2014) in the next two years, the agency stated.

BPS’ head Suryamin said Indonesia scored the trade surplus due to the steep decline in imports, which were worse than the decline in exports, adding that the amount of the surplus could have been bigger if the local products were strong enough to substitute the import of raw materials and capital goods.

“We need to accelerate this industry. From January to September 2015, the surplus reached $ 7.13 billion,” he was quoted by kompas.com as saying.

In September alone, Indonesia recorded trade surplus of $1.02 billion, as the export reached $12.53 billion while the import amounted $11.51 billion.

“The September trade surplus is the fourth [monthly] biggest surplus of the year,” Suryamin stated.

Indonesia scored its biggest monthly trade surplus in 2015 worth $1.38 billion in July, followed by May trade surplus ($1.08 billion), and March ($1.03 billion). (ags/dan)

Source: The Jakarta Post