JAKARTA, NNC - Throughout 2017, Indonesia's trade balance posted a surplus of up to $11.84 billion. This is higher achievement compared to the previous year's a mere $9.63 billion.
Head of the Central Statistics Agency (BPS) Suhariyanto said the trade balance surplus in 2017 shows the highest level since 2013 and 2014 which experienced a deficit and then returned a surplus in 2015 and 2016.
Cumulatively, Indonesia's export value from January to December 2017 reached $168.73 billion. The figure climbed 16.22 percent over the same period in 2016.
Meanwhile, cumulative imports from January to December 2017 stood at $156.89 billion, an increase by 15.66 percent over the same period of the previous year.
With the spread in the value of cumulative exports and imports, the 2017 trade balance generated a surplus of $11.84 billion.
In detail, the value of Indonesia's special trade balance in December 2017 experienced a deficit of $0.27 billion, triggered by a deficit in oil and gas sector amounting to $1.04 billion. However, the non-oil and gas trade balance was surplus amounting to $0.77 billion.
In terms of trade volume, Indonesia's trade balance surplus reached 34.03 million tons in December 2017. This was driven by a surplus in non-oil and gas sector trade balance which reached 34.90 million tons. However, the balance of trade volume in the oil and gas sector was deficit by 0.87 million tons.