Economic
Highlights:
Exports Continues to Recover while Imports Fall Deeper in September
Exports Continues to Recover while Imports Fall Deeper in September
¨ Indonesia’s exports contracted by a smaller magnitude of 0.6% y-o-y in September, from -0.7 in
August.This was drivenby a smaller decline in oil
product exports,on account of a recovery in oil prices.
¨ Imports,
meanwhile,contracted by a larger magnitude of 2.3% y-o-y in September,
from -0.1% in August due to declines in crude oil and non-oil & gas imports
¨ In September, the
trade account continued to record a surplus of USD1.2bn, the highest level
this year. This leads to a higher trade surplus in 3Q2016, suggesting that the
country’s current account deficit in the balance of payments could have
improved during the quarter.
¨ Moving forward, the global
economy is still faced with many downside risks. This suggests that Indonesia’s
exports will likely remain challenging and we expect the country’s exports
to remain in contraction of 2.8% in 2017, albeit by a smaller magnitude
compared with an estimate of -7.0% for 2016and-14.6% in 2015.
Kindly click the following link for the full report: Exports Continues to Recover while Imports Fall Deeper in September
Best regards,
Rizki Fajar
Vice President
Economist
PT. RHB Securities
Indonesia
