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Trade Outlook
Trade Outlook December 2014
December 23, 2014 10:19

Compared to September’s, October exports had slow growing of 0.5 percent to US$ 15.3 bn, stemmed from contracting oil and gas exports (-5.8 percent MoM) and flat growth of non oil and gas exports (+1.8 percent MoM). Exports volume weakened 4,8 percent MoM, while it rose by 5.5 percent in term of average aggregate prices. ?

The exports of two major products showed mixed result in October. Exports of animal and vegetable  fats (HS 15) was increasing by 29.7 percenr, while the mineral fuels exports (HS 27) had 11.6 percent lower. The exports of other non oil and gas products, such as electrical machinery and mechanical machinery, remain boosted.

Shipments of Indonesia’s non oil and gas export products to China and the U.S. slumped by 7.2 percent and 3.7 percent. Meanwhile the non oil and gas exports to Japan still posted 5.1 percent higher.

In contrast of exports, the October’s imports dropped 1.4 percent MoM, which contributed by falling oil and gas imports (-2.0 percent MoM), and non oil and gas imports (-1.2 percent MoM). October’s imports volume was slightly up 0.12 percent although the average aggregate prices contracted 1.5 percent MoM.

?By product type, imports of mechanical machinery and equipment (HS 84) and electrical machinery and equipment (HS 85) dipped 3.7 percent and 3.8 percent, respectively. Shipments of non oil and gas products from China declined by 8.2 percent, while imports from Japan and Singapore rose by 2.5 percent and 23.5 percent, respectively.

By classification, only the imports of capital goods posted an increase (+4.4 percent). Imports of raw materials were down (-1.6 percent), followed by imports of consumption goods (-12.4 percent). In the January-October period, imports of raw materials accounted for 76.4 percent of Indonesia’s total imports.

As a results, Indonesia recorded small trade surplus of US$ 23.2 mn, from US$ 270.3 mn deficit in September. In cumulative of 10 months, Indonesia’s trade deficit reached US$ 1.64 bn– or lower than the deficit of US$ 6.4 bn recorded in the corresponding period of last year.