Update COVID-19 in Indonesia: 1,769,940 confirmed infections, 49,205 deaths (22 May 2021)
7 June 2021 (closed)
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Jakarta Composite Index (6,069.94) +4.77 +0.08%
For the second consecutive month Indonesia recorded a big trade surplus. According to the latest data from Indonesia’s Statistical Agency (BPS), the country posted a USD $1.27 billion trade surplus in June 2020.
While compared to June 2019 Indonesia’s export and import performance continued to deteriorate, the (modestly) positive news is that Indonesia’s trade performance improved compared to the performance in the preceding month (May 2020).
However, as we have noted many times before over the past months, the big trade surplus of Indonesia in June 2020 is certainly not a reason to become overly excited because it is mainly caused by imports that are plunging at a much faster rate than the country’s exports.
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