Indonesia’s exports, imports continue to increase in March

According to data from Central Statistics Agency, Indonesia’s exports and imports continued to increase in March.

The data showed that the country’s exports climbed by 23.5% in March on a yearly basis, faster than the estimates of an increase of 12%, and by 15.6% month-on-month. This was the sixth consecutive month the country’s exports increased.

The annual rise in exports was mainly driven by an increase in sales of non-oil and gas products by 24% and of oil and gas products by 19.4%.

Similarly, imports increased by 18.20% year on year, more than the expectations of a rise of 8.7%, while it was up by 17.6% on a monthly basis. The annual growth of imports was the highest recorded since February 2012.

The rise in imports was mainly driven by an increase in consumption goods by 58.2%, in capital goods by 18.8% and in raw material by 13.3%.

According to the data, the country’s exports reached $14.59 billion in March while imports climbed to $13.36 billion. The data also showed that the trade surplus of the country stood at $1.23 billion in March.