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View all search resultsQ1 trade surplus halves amid slump in coal, coffee exports
While manufacturing exports continued to expand, rising 3.96 percent in the first quarter and supported by strong nickel shipments, the gains were not enough to offset declines in mining exports caused by weaker coal shipments.
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Heavy equipment operators work at an open-pit coal mine in Jambi on May 19, 2017. (AFP/Goh Chai Hin)
S
tatistics Indonesia (BPS) reported a trade surplus of US$5.55 billion in the first quarter of this year, about half the $10.91 billion surplus recorded in the same period last year.
The softer figure came amid a 32.5 percent drop in the non-oil and gas trade surplus to $10.63 billion, as well as an oil and gas deficit that widened by around 5 percent to $5.08 billion. However, the country has maintained a trade surplus for 71 consecutive months since May 2020.
Exports in the first quarter showed only marginal growth, rising 0.34 percent year-on-year (yoy) to $66.85 billion.
The increase was driven by non-oil and gas shipments, which edged up 0.98 percent to $63.6 billion, while oil and gas exports dropped 10.58 percent to $3.25 billion.
The decline in energy exports was broad-based, with crude oil shipments plunging 44.32 percent, alongside smaller declines in refined fuel and natural gas exports.
Read also: RI manufacturing growth slows in April: Industry Ministry survey
While manufacturing exports continued to expand, rising 3.96 percent in the first quarter, supported by strong nickel shipments, the gains were not enough to offset declines in other key sectors as mining exports fell 11.17 percent yoy, primarily caused by weaker coal shipments.
