Trade balance in surplus on lower imports

The Jakarta Post   |  Mon, 10/06/2008 8:00 PM  |  Business

Indonesia's trade balance reached a surplus in August on lower demand for imports, the Central Statistics Agency (BPS) reported on Monday.

The total value of exports in August reached US$12.5 billion, BPS said, which was 0.43 percent less than the total in July. However, the value of imports dropped further in August, concluding at $11.86 billion, or 7.42 percent lower than the previous month.

"We recorded a surplus of $635 million in August," said Ali Rosidi, deputy chief of BPS distribution and service statistics division.

The decrease in export value occurred in both the oil and gas, and non-oil and gas product sectors.

Exports of oil and gas in August reached $9.56 billion, down by 1.2 percent from the previous month, but up by 23.54 percent from August 2007.

Cumulatively, Indonesia's trade balance from January to August enjoyed a total surplus of $5.62 billion, with exports worth $95.45 billion (up 29.87 percent from the same period last year), while imports stood at $89.83 billion. (dre)
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