The central bank of Indonesia (Bank Indonesia) announced that the improving trend of the current account deficit continued in the first quarter (January-March) of 2014. The current account deficit fell from USD $4.3 billion, equivalent to 2.12 percent of the country's gross domestic product (GDP) in the fourth quarter of 2013 to USD $4.2 billion (2.06 percent of GDP) in Q1-2014. This improvement was brought about due to a decrease in imports of goods and the narrowing deficits in the services and income accounts.

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On Monday (05/05), Statistics Indonesia announced that unemployment in Indonesia declined to 5.70 percent (of the total labor force) in February 2014, equivalent to 7.2 million people in absolute terms. Compared to August 2013 (when Indonesia's unemployment rate was 6.17 percent), this constitutes a marked improvement. However, growth was limited compared to February 2013 (when unemployment was 5.82 percent), Data on Indonesia's (un)employment are released twice per year, covering conditions in the months February and August.

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Indonesia's March 2014 trade balance recorded a surplus of USD $673 million as the value of exports reached USD $15.21 billion, while imports stood at USD $14.54 billion. It was the second consecutive monthly trade surplus for Indonesia. In February 2014, the country posted an USD $843.4 million trade surplus. In the first three months of this year, Indonesia's trade balance now accumulated to an USD $1.07 billion surplus. Market participants will be pleased to see this balance as it eases pressures on the current account deficit.

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Indonesian exports are expected to rise 6.7 percent to IDR 1,399.7 trillion (USD $123.9 billion) in 2014 as a number of advanced markets (including the United States) have been showing signs of improving economies (the calculation of the figures was done by the Ministry of National Development Planning also known as Bappenas). Increased demand from these advanced markets will result in more exports of Indonesian manufactured products. Indonesian exports of natural resources, on the contrary, are expected to slow.

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According to the Asian Development Bank's latest annual Asian Development Outlook (which provides an analysis of economic performance for the past year and near future), developing Asia is expected to extend its steady growth. The region’s growth is projected to edge up from 6.1 percent in 2013 to 6.2 percent in 2014 and 6.4 percent in 2015. Moderating growth in China (PRC) as its economy adjusts to more balanced growth will offset to some extent the stronger demand expected from the industrial countries as their economies recover.

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After announcing the low March inflation rate (0.08 percent), Statistics Indonesia (BPS) also released positive news about Indonesia's trade balance. In February 2014, Indonesia recorded a USD $785.3 million trade surplus, supported by a USD $1.58 billion surplus in the non-oil and gas sector (the oil and gas sector recorded a deficit of USD $797.4 million). According to BPS Head Suryamin, exports in February rose 0.68 percent (month-to-month) to USD $14.57 billion, while imports declined 7.58 percent (mtm) to USD $13.78 billion.

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Agus Martowardojo, Governor of the central bank of Indonesia (Bank Indonesia) expects a trade surplus of around USD $700 million in February 2014. If Martowardojo's forecast is realized, it would be a sharp contrast to the USD $430.6 million trade deficit that was recorded one month earlier. In January, the trade deficit was mainly due to declining exports of coal and vegetable oil (which together account for 26.7 percent of total non-oil & gas exports), among others, due to ongoing annual contractual negotiations at the year-start.

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The central bank of Indonesia (Bank Indonesia) lowered its forecast for growth of Southeast Asia's largest economy in 2014 from the range of 5.8 - 6.2 percent to 5.5 - 5.9 percent as expansion of domestic consumption and exports are less robust than previously estimated. As such, Bank Indonesia implied that economic expansion of Indonesia will slow down further. Starting from 2011, gross domestic product (GDP) growth of Indonesia has declined steadily from 6.5 percent to 5.8 percent in 2013.

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It was decided at the Board of Governors' Meeting (on 13 March 2014) to hold the benchmark interest rate (BI rate) at 7.50 percent, the lending facility rate at 7.50 percent and the deposit facility rate at 5.75 percent. The policy is consistent with ongoing efforts to guide inflation back towards its target corridor of 4.5±1 percent in 2014 and 4.0±1 percent in 2015, as well as to reduce the current account deficit to a more sustainable level. Recent developments indicate that the rate of inflation is under control and the current account deficit is shrinking.

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Amid a political crisis in the Ukraine, the oil price has risen significantly and the US dollar is appreciating against other currencies, particularly emerging market currencies, including the Indonesian rupiah exchange rate. Besides the US dollar, demand for other safe havens (gold, yen as well as US Treasuries) also increased due to Russian presence in the Ukraine (Crimea peninsula). Based on the Bloomberg Dollar Index, the rupiah had depreciated 0.35 percent to IDR 11,632 per US Dollar at 11:40 a.m. local Jakarta time.

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On 06 February 2023, Indonesia’s Statistical Agency (Badan Pusat Statistik, or BPS) released the latest official gross domestic product (GDP) data of Indonesia. The data were in line with expectations.

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In the second half of September 2022 the Indonesian rupiah experienced some steep depreciating pressures, nearly touching IDR 15,300 per US dollar. It prompted Bank Indonesia to step and intervene in markets to limit the currency’s decline; a step that typically leads to a drop in the country’s foreign exchange reserves.

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Both Indonesia’s export and import performance was quite amazing in March 2022. While we expected imports to rebound ahead of the start of the Ramadan month (on 1 April 2022), a month that typically gives rise to a big increase in consumption, we did underestimate Indonesia’s export performance in last month’s forecast.

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In January 2022 Indonesian Minister for Coordinating Economic Affairs Airlangga Hartarto said the Indonesian government aims to ratify the Regional Comprehensive Economic Partnership (RCEP) trade agreement in the first quarter of 2022. Just like the Philippines and Myanmar, Indonesia is still to ratify the RCEP even though this agreement already took effect per 1 January 2022.

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According to the latest data from Statistics Indonesia (Badan Pusat Statistik, or BPS), Indonesia posted a USD $4.37 billion trade surplus in September 2021. It is a slightly lower surplus compared to the previous month (when Indonesia posted its highest ever monthly trade surplus), but remains one of the highest surpluses in the history of Indonesia.

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Indonesia recorded another big trade surplus in July 2020. Based on the latest data from Indonesia’s Statistical Agency (BPS), the country's trade surplus reached USD $3.26 billion in July 2020, a huge improvement from the USD $280.1 million deficit it recorded in the same month one year earlier.

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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.

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On 5 May 2020 Statistics Indonesia (Badan Pusat Statistik, BPS), a non-departmental government agency, released the first quarter gross domestic product (GDP) data of Indonesia for the year 2020. These data were highly anticipated as policymakers, analysts, and stakeholders are particularly interested in finding out to what extent damage has been done to the Indonesian economy by the self-imposed restrictions.

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In line with estimates, Indonesia’s trade balance showed another deficit in January 2020. Based on the latest data from Statistics Indonesia (Badan Pusat Statistik, or BPS), a USD $864.2 million trade deficit was recorded in the first month of the year.

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On 15 October 2019 the first edition of the ‘Indonesia Trade & Investment Summit’ was held at the Ritz Carlton ballroom at Pacific Place Jakarta in the Sudirman Central Business District (located in South Jakarta).

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