Indonesia has particularly focused on their export performance the last year through strengthening their commondity prices. As a result, the trade balance of Indonesia showed of USD $990 million in December 2016, higher than the USD $830 million (revised) surplus recorded in the preceding month.
On record, Indonesia has shipped USD $ 144.4 billion worth of goods to its export markets in full-year 2016. Comparing it to the year before, there was a down of 3.95 percent from shipments. However, this decline was much softer than the 15.57 percent (y/y) export earnings decline that occurred in full-year 2015 from 2014.
Meanwhile, Indonesia’s imports in full-year 2016 stood at USD $135.7 billion, down 4.94 percent (y/y) from the nation’s import earnings one year earlier. It led to a USD $8.8 billion trade surplus in full-year 2016, improving from Indonesia’s USD $7.7 billion trade surplus in the preceding year.
Regarding the forecast for Indonesia’s exports in 2017 there should occur an improvement due to the recently unveiled mining rules. Under certain conditions, exports of mineral ore is re-allowed.