International 2014: Q1
In January 2014, the trade account fell back into deficit after three consecutive months of surplus (October – December 2013). During 2013, Indonesia balance of trade showed a deficit of USD 4.06 Billion, which constituted a deterioration from a trade deficit of USD 1.66 Billion in 2012. Rising trade deficit in Indonesia in 2013, is largely attributable to the fact that the surplus on trade balance of non oil and gas was smaller than the deficit on trade balance of non oil and gas. On a month-to-month basis, balance of trade registered a decline of 128% from a surplus of USD 1.53 Billion in December 2013 to a deficit of USD 0.43 Billion in January 2014. The condition was by and large caused by a decline in Indonesian exports that was larger than a decline of imports, 14%, and 3%, respectively.
International 2013:Q4
The Indonesia trade balance performance has improved as by October 2013. The Indonesia trade balance which registered deficit of USD 0.8 billion in September 2013, became a surplus once again of USD 0.04 billion in October 2013. Improvement in the performance of the trade balance was in part attributable to the increase in exports, which rose by 6.9% over the level registered in September 2013, while imports increased by 1.06% during the same period.
Figure 15: Indonesia Trade Balance, 2011 – 2013*
Trade balance posted a surplus in October 2013.
Source: Badan Pusat Statistik and CEIC (2013)
*= October 2013
International 2013:Q3
Weakening growth of the world and regional economy, coupled with low of Indonesia’s international competitiveness, compounded with falling commodity prices, have all undermined Indonesian exports.
Figure 14 : Indonesia Trade Balance January 2011 – July 2013
Indonesia trade balance registered the largest record deficit so far
Source: BPS and CEIC (2013)
Indonesian trade balance deteriorated in July 2013. The trade balance recorded a deficit of USD 2.3 billion, which followed a deficit of USD 0.9 billion in June 2013. Cumulatively, from June to July, 2013, Indonesia has posted a trade balance deficit of USD 5.6 Billion.