The Central Bank (Bank Indonesia/BI) reported on Friday last week (August 12) that Indonesia recorded trade surplus of US$2.2 billion in the second quarter (Q2) of 2016, helped by lower current account deficit and higher surplus of transaction on capital and financial. In Q1, the country recorded trade deficit of US$0.3 billion. BI also said that the current account deficit declined to US$4.7 billion (2% over GDP) from US$4.8 billion (2.2% over GDP) in Q1. Export of non oil and gas increased higher than the import side, making a bigger surplus for the sector. Leading the export during Q2 was manufacturing such as textile and textile products, automotive and spare parts, machines and mechanical equipment. Import of raw materials also rose.
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