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Indonesia’s trade surplus reaches five-year high

Indonesia booked a trade surplus of US$3.93 billion during this year’s first three months, the highest first-quarter figure since 2012.

In the month of March, Indonesia saw a trade surplus of $1.23 billion, down 6.8 percent from February.

The country’s exports amounted to $14.59 billion in March, up 15.68 percent on the month (mom) and 23.55 percent year-on-year (yoy).

Total exports from January to March this year reached a value of $40.61 billion, 20.84 percent higher than in the same period last year.

“This is good news,” Central Statistics Agency (BPS) head Suhariyanto told a press briefing in Jakarta on Monday. “A higher increase in the value [of oil and gas exports] rather than in the volume indicates there is a price increase.”

Meanwhile, imports of $13.36 billion in March were up 17.65 percent mom and 18.19 percent yoy.

First-quarter imports stood at $36.68 billion this year, 14.83 percent higher than last year. (bbn)

Source: Jakarta Post