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BPS records US$1.74 billion trade surplus in June

The Central Statistics Agency (BPS) announced on Monday that Indonesia had recorded a trade surplus of US$1.74 billion in June, overturning the $1.45 billion trade deficit of the previous month.

Exports in June rose 11.47 percent year-on-year (yoy) to $13 billion, driven in part by increased exports in fuel and electrical machinery as well as vehicles and automotive spare parts.

Meanwhile, imports grew 12.66 percent yoy to $11.26 billion, with a 14.56 percent yoy increase in raw materials and a 19.94 percent yoy increase in capital goods.

June’s figure surpassed Bank Indonesia’s (BI) estimated trade surplus of close to $1 billion, on the assumption that seasonal factors that dominated imports the previous month would not occur in June.

Despite recording positive growth, trade still posted negative growth with June imports contracting by 36.27 percent month-to-month (mtm) and exports also contracting by 19.18 percent mtm.

BPS head Suhariyanto said the contractions were due to seasonal factors, particularly with industries having fewer working days in June because of the 10-day extended Idul Fitri holiday from June 11 to 20.

“The decrease in exports in June, which coincided with Idul Fitri, fit the usual pattern we have observed during Idul Fitri,” he said in Jakarta on Monday.

Indonesia, however, still posted a deficit of$1.02 billion in the first semester, compared to a $7.66 billion surplus in the same period last year. (bbn)

Source: The Jakarta Post