Indonesian exports of completely built up (CBU) car units surged in the first quarter of 2017, a development that may indicate that global economic growth is improving (specifically in the export destination nations). Based on data from the Indonesian Automotive Industry Association (Gaikindo) Indonesia exported 56,371 units in Q1-2017, up 53.4 percent year-on-year (y/y) from 36,750 units in the same period one year earlier.
Meanwhile, Indonesian exports of completely knocked down (CKD) car units in the first quarter of 2017 fell 35.2 percent (y/y) to 17,546 units, while shipments of car components dropped 14.7 percent (y/y) to 1.16 million units over the same period.
Read more: Analysis of Indonesia's Automotive Industry
Imports of CBU units into Indonesia, on the other hand, fell 14.2 percent (y/y) to 19,654 units in the first quarter of 2017, implying Indonesia has a growing surplus on the CBU trade balance.
Indonesian Car Exports:
CBU = completely built up
CKD = completely knocked down
¹ Q1-2017 only
Meanwhile, car sales in Indonesia are showing a solid recovery so far this year. In the first three months of 2017 a total of 282,596 cars were sold on the Indonesian market, up 5.7 percent (y/y) from 267,302 sold car units in the same period one year earlier.
Indonesian Car Sales (CBU):