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Indonesia Trade Balance In December 2015 Improved

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Oleh Amrln, Jumat, 22 Januari 2016 | 09:11 WIB - Redaktur: Filmon Warouw - 753

Jakarta, InfoPublik – Indonesia’s trade balance in December 2015 experienced a deficit of US$0.23 billion. However, this condition was preferable than the previous month's deficit of US$0.41 billion. This improvement was driven by the non-oil trade balance surplus.
 
"On the other hand, oil and gas trade balance deficit has increased from the previous month," said Tirta Segara, the Executive Director of Communications Department of Indonesia’s Central Bank (BI) in Jakarta, Wednesday (1/20).
 
He explained that in December 2015, the non-oil trade balance recorded a surplus of US$0.27 billion, after a deficit of US$0.27 billion. Non-oil trade balance surplus was driven by the growth in non-oil export (10.12% mtm) higher than the growth of non-oil import that amounted to 4.50% (mtm).
 
Growth in non-oil export occurs in animal/vegetable fat and oil commodities and commodities like apparels, ores, ash crust and metal, pulp, and tin. Meanwhile, non-oil import growth was driven by the rising of imports of machinery and mechanical appliances commodity; iron and steel; organic chemical; marine vessel and floating structure; and weapon/ammunition.
 
On the other hand, he continued, the oil and gas trade balance recorded a deficit of US$0.50 billion, higher than the deficit in November 2015 amounting to US$0.14 billion. The oil and gas trade balance was pressured by the fall of oil and gas export amounted to 13.20% (mtm) while oil and gas imports increased by 9.61% (mtm).
 
According to him, with these developments, the overall trade balance in 2015 recorded a surplus of US$ 7.52 billion; the trade balance improved from a deficit in 2014 amounted to US$1.88 billion. Improvement of 2015 trade balance was driven by the increase in non-oil trade balance surplus and a decline in oil and gas trade balance deficit.
 
"The improvement of the trade balance  supports the improvement in the current Indonesia’s account which is expected to be better than the previous year and at healthier level," he concluded. (Translator: Wilda Stiana)