Trade surplus up 77 percent

Trade surplus up 77 percent

JAKARTA (JP): Indonesia's monthly trade surplus rose by nearly 77 percent to US$847.5 million in February from $479.4 million in February, 1995.

Minister of Industry and Trade Tunky Ariwibowo said on Friday that the higher surplus was attributed to an increase in exports and a continued downward trend in imports.

The total value of Indonesia's exports rose by over 7.2 percent to $3.68 billion in February from $3.43 billion in February, 1995. Imports, on the other side, dropped by 4 percent to $2.83 billion, from $2.95 billion.

Tunky said that from its external trade of oil and gas, Indonesia booked a surplus of $489.3 million in February, while the non-oil sectors recorded a surplus of $358.2 million.

He said that in February, 1995, the surplus in the oil and gas sector was much higher, reaching $561.5 million. But that the non-oil sectors suffered a deficit of $82.1 million.

"In February this year, the surplus in the oil and gas sector fell by $72.2 million," he said. "But in the overall trade, our surplus rose by 76.78 percent, as compared to that on the same month of 1995," he said.

In January, the monthly surplus reached $620.8 million, with total exports amounting to $3.58 billion and imports to $2.95 billion.

The trade surplus in January was 19.5 percent higher than that of January, 1995.

However, the trade surplus in the period of April to February in the 1995/1996 fiscal year, which ended in March, declined by 36.07 percent to $4.82 billion from $7.54 billion for the same period of the previous fiscal year. (hen)