Low oil price yields trade balance surplus

February 16, 2015 10:31 PM

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Low oil price yields trade balance surplus

Indonesia’s trade balance posted a larger-than-expected surplus of US$709.4 million in January as imports weakened, particularly on lower oil prices.

Monthly imports plunged by 15.59 percent to $12.59 billion from a year earlier, primarily triggered by a sharp drop in oil imports of 40.42 percent to $2.11 billion, the Central Statistics Agency (BPS) announced Monday in its first trade data release with only one-month gap with actual transactions.

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