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Trade surplus shrinks to US$375.6 million in May
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A worker carries a sack of imported sugar on his shoulder. (Tempo/-)
T
he country’s trade surplus has significantly declined in May to US$375.6 million, compared to April's surplus of $667 million, because of increased imports amid decreasing non-oil and gas exports.
The May surplus has significantly plunged when compared to the $1.14 billion trade surplus in May 2015. However, in total, the country saw a $2.70 billion trade surplus from January to May as total imports in the five-month period dropped by 11.61 percent year-on-year (yoy) to $53.89 billion.
"Global exports activities had yet recovered due to persistent sluggish commodity prices in the global market," the Central Statistics Agency (BPS) head Suryamin said in a press conference in Jakarta on Wednesday.
BPS data revealed that the nation's exports stood at $11.5 billion in May, a 0.31 percent increase from the previous month but a 9.57 percent decrease yoy.
Oil and gas exports rose 7.42 percent month-on-month (mom) to $960 million while non-oil and gas exports dropped by 0.29 percent (mom) to $10.55 billion.
Along with the increase in exports, May's imports increased as well, by 2.98 percent to $11.14 billion from imports in the previous month. However, it was down by 4.12 percent on a yearly basis. (ags)
