Indonesia’s export rises in August on higher commodity prices

Indonesian labourers load cement onto a ship at Sunda Kelapa port in Jakarta February 3, 2015.

Based on BPS data, Indonesia’s August exports rose 19.24 percent (y/y) to Dollars $15.21 billion, significantly exceeding analysts’ forecasts.

Indonesia’s trade balance posted the highest surplus in almost six years in August as exports picked up on the back of rebounding commodity prices.

The Southeast Asia’s biggest economy is the world’s largest exporter and producer of crude palm oil and thermal coal.

Indonesia’s non-oil & gas balance in August 2017 recorded a surplus of Dollars $2.42 billion. The holidays for 2017 were in June.

“Non-oil and gas import value rose 11.85 percent, dominated by machineries and mechanical aircrafts by $13,54 billion, while machinery and electrical equipment contributed $1,12 billion”, he said.

August exports on a yearly basis rose 19.24 per cent.

Imports climbed 8.89 percent annually in August, just below the expected growth of 9.6 percent. Imports were worth $99.68 billion during the same period, rising 14.1% from a year before, mainly due a 15.4% increase in the imports of intermediary products.

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