Ayomi Amindoni, Jakarta – The economy has recorded a US$293.6 million surplus in its August trade balance, with $12.63 billion in exports and $12.34 billion in imports, according to the latest trade data released by the Central Statistics Agency (BPS) on Thursday.

The surplus slightly decreased from the July figure which stood at $598.3 million, as the country saw higher growth in imports than growth in exports.The country's import value of $12.34 billion in August, increased 36.84 percent from the previous month, but down 0.49 percent compared to same period last year. Non-oil and gas imports reached $10.58 billion in August, up 40.9 percent month-on-month (mom) and 2.84 percent year-on-year (yoy).

Likewise, monthly oil imports also increased in August, totaling $1.76 billion, up by 16.55 percent mom, but down by 16.71 percent on a yoy basis.

BPS data show monthly exports have jumped by 32.54 percent in August, but when compared to the same period last year, the value of exports has decreased by 0.74 percent.

The export hike in August was mostly from non-oil exports which stood at $11.5 billion, up by 34.84 percent mom and 2.76 percent yoy. (ags)

Source: http://www.thejakartapost.com/news/2016/09/15/indonesias-trade-balance-sees-august-declines.html