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Indonesia achieves higher trade surplus in 2016
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A railway car manufactured by state-owned train manufacturer PT Industri Kereta Api (INKA) is loaded onto a cargo vessel, which will bring it to Bangladesh. (thejakartapost.com/Wahyoe Boediwardhana)
I
ndonesia recorded a trade surplus of US$8.78 billion in 2016, marking a 15 percent increase from the surplus of $7.61 billion achieved a year earlier, according to the Central Statistics Agency (BPS).
A 4.93 percent year-on-year decline in imports to $135.65 billion contributed to the trade surplus by more than making up for a 3.95 percent fall in exports to $144.43 billion.
However, as BPS head Suhariyanto explained at a press conference at his office on Monday, "That means our international trade has not recovered yet, because our exports are still sluggish."
BPS deputy head for distribution and statistics Sasmito Hadi Wibowo said exports of some commodities, such as crude oil and crude palm oil, had benefited from rising prices.
In December, crude oil prices were $51.09 per barrel compared to $37.04 per barrel in Dec. 2015, while crude palm oil prices reached $711.76 per metric ton compared to $520.6 per metric ton a year earlier.
"In terms of volumes, exports decreased, but the price hike has reduced that effect," he said. (bbn)
