Bank Indonesia Expects USD $600 Million Trade Surplus in April 2014

Martowardojo said that stable prices of Indonesia’s most important export commodities (coal and crude palm oil) have resulted in increased demand from the country’s main trading partners. The Minerba Act, which was implemented on 12 January 2014, prohibits exports of unprocessed minerals (although under some conditions certain raw minerals are allowed to be exported). Contrary to initial expectation this has not led to a widening of the country’s trade deficit.

Another factor that may be responsible for a trade surplus in April is the declining import of raw materials into Indonesia. The downside of this declining import is that it is a sign that investments in Indonesia are slowing. Slowing investment impacts negatively on general economic growth of Southeast Asia’s largest economy.

Meanwhile, Bank Indonesia reminded the private sector to watch foreign debt. In March 2014, total foreign debt of Indonesia totaled USD $276 billion. About USD $146 billion of this total debt constituted private sector debt. Martowardojo said that the country’s (foreign) debt service ratio increased sharply in the first quarter of 2014 and this should be carefully monitored.

Indonesia's Trade Balance 2014 (in billion US Dollar):

2014	Export			Import
Month	Oil & Gas	Non Oil & Gas	Total	Oil & Gas	Non Oil & Gas	Total
January	2,50	11,97	14,47	3,55	11,37	14,92
February	2,73	11,90	14,63	3,46	10,33	13,79
March	2,64	12,57	15,21	4,01	10,53	14,54
Jan-Mar	7,87	36,45	44,41	11,02	32,22	43,25

Indonesia's Trade Balance 2013 (in billion US Dollar):

2013	Export			Import
Month	Oil & Gas	Non Oil & Gas	Total	Oil & Gas	Non Oil & Gas	Total
January	2,66	12,72	15,38	3,97	11,48	15,45
February	2,57	12,45	15,02	3,64	11,67	15,31
March	2,93	12,09	15,02	3,90	10,99	14,89
April	2,45	12,31	14,76	3,63	12,83	16,46
May	2,92	13,21	16,13	3,43	13,23	16,66
June	2,80	11,96	14,76	3,53	12,11	15,64
July	2,28	12,81	15,09	4,14	13,28	17,42
August	2,72	10,36	13,08	3,67	9,34	13,01
September	2,41	12,29	14,70	3,72	11,79	15,51
October	2,72	12,99	15,70	3,47	12,20	15,67
November	2,77	13,17	15,94	3,70	11,21	15,15
December	3,41	13,58	16,98	4,22	11,24	15,46
Jan-Dec	32,63	149,93	182,57	45,27	141,36	186,36

^{Source: Statistics Indonesia}

Current Account of Indonesia (USD Million)

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