- Riset Terkini
|Trade Outlook November 2014|
|November 27, 2014 14:57|
Indonesia’s exports rose 5.5 percent MoM in September to US$ 15.3 bn, driven by both higher non oil and gas xports (+6.5 percent MoM) and oil and gas exports (+0.9 percent MoM). The average aggregate prices edged down 0.38 percent MoM, although on a YoY comparison, they are still 26.0 percent higher. Exports volume rose 5.9 percent MoM, although cumulatively in the first 9 months of the year, it is 18.8 percent lower compared to last year’s exports volume.
The exports of two major products rebounded in September. Exports of animal and vegetable fats (HS 15) and mineral fuels (HS 27) increased by 4.3 percent and 5.7 percent, respectively. The exports of other non oil and gas products, such as electrical machinery and rubber products, also posted increases.
Shipments of non oil and gas export products to Indonesia’s major trading partners posted increases. On a monthly basis, Indonesia’s non oil and gas exports to China increased the most (up 13.9 percent), followed by a 9.1 percent increase to the U.S. and a 6.7 percent increase to Japan.
Imports also rose in September. Total imports climbed 5.1 percent MoM to US$ 15.5 bn, driven by stronger oil and gas imports (+7.4 percent MoM) and non oil and gas imports (+4.4 percent MoM). September’s imports volume was up 12.7 percent although the average aggregate prices contracted 6.7 percent MoM.
By product type, imports of mechanical machinery and equipment (HS 84) dipped 0.7 percent, while imports of electrical machinery and equipment (HS 85) rose 1.4 percent. Shipments of non oil and gas products from China increased by 14.3 percent, while imports from Japan and Singapore declined by 3.8 percent and 6.8 percent, respectively.
By classification, imports of all types of goods still posted increases. Imports of raw materials were up the most (+5.64 percent), followed by imports of capital goods (+4.90 percent) and imports of raw materials (+0.3 percent). In the January-September period, imports of raw materials accounted for 76.5 percent of Indonesia’s total imports.
After recording a trade deficit of US$ 311.5 mn in August, Indonesia recorded another trade deficit of US$ 270.3 mn in September. The deficit narrowed as exports growth was higher than imports growth. Also encouragingly, Indonesia’s trade deficit in the first 9 months of 2014 stood at US$ 1.7 bn – or significantly lower than the deficit of US$ 6.4 bn recorded in the corresponding period of last year.