Jakarta – Indonesia's trade surplus in November slid 7.8% to $2.35 billion from $2.55 billion in October, raising concerns that it may take some time to revive non-oil exports despite the improved domestic political climate after the October presidential election.
The chairman of the Central Bureau of Statistics, Sugito, said Friday that the "discouraging data show that Indonesia's export-oriented industries were dogged by external factors ... [even as the] domestic political situation improved."
The November trade surplus was lower than the market's average consensus of $2.6 billion.
The bureau said exports fell to $4.4 billion in November from $4.59 billion in October, but was up from $3.87 billion a year ago. Exports were below market expectations of $4.6 billion.
Imports edged up to $2.05 billion from $2.04 billion in October, but fell from $2.36 billion a year ago. Imports were slightly lower than the market's expectation of $2.06 billion.
Sugito said Indonesia's non-oil and gas exports fell to $3.41 billion from $3.54 billion in October. Oil and gas exports declined to $987.7 million from $1.05 billion.
He added non-oil and gas imports rose to $1.71 billion from $1.66 billion in October, as the rupiah's exchange rate stabilized against the dollar.
Oil-and gas imports, however, fell to $342.4 million from $379.3 million in October on a decrease in imports. He said that rising international oil prices discouraged domestic fuel consumption.