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Today's Headlines Trade

  • Trade Balance Indonesia: $1.52 Billion Deficit in May 2018

    After a (revised) USD $1.63 billion trade deficit in April 2018, Indonesia posted another big trade deficit in the following month. In May 2018 Indonesia's trade deficit reached USD $1.52 billion, slightly lower from the deficit in the preceding month but still constituting a wider deficit than had been expected by analysts. Despite rising exports in May, a soaring crude oil price managed to put big pressures on Indonesia's trade balance.

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  • Trade Balance Indonesia: $1.63 Billion Deficit in April 2018

    Based on data from Statistics Indonesia (BPS), Indonesia's trade balance showed a USD $1.63 billion deficit in April 2018. The deficit, which surprised most analysts' expectations, is the nation's biggest monthly trade deficit in four years (April 2014). While exports grew 9.0 percent year-on-year (y/y) to USD $14.47 billion, imports grew much more impressive - at a pace of 34.7 percent (y/y) - to USD $16.09 billion last month.

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  • Indonesia May File Compaint at WTO over US Anti-Dumping Duties

    In early April 2018 the United States confirmed steep anti-dumping duties and countervailing duties on Indonesian biodiesel imports. Published through the Federal Register the US imposed additional duties that range between 126.97 percent and 341.38 percent. For sure, this seriously harms the competitiveness of Indonesian biodiesel shipments to the world's top economy. If the policy is not altered, then it basically means the end of Indonesian biodiesel exports to the US market.

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  • Trade Balance Indonesia: $1.1 Billion Trade Surplus in March 2018

    Indonesia posted a surprising USD $1.1 billion trade surplus in March 2018, the country's largest trade surplus since October 2017 and effectively ending a three-month trade deficit streak. Suhariyanto, Head of Indonesia's Statistics Agency (BPS), told reporters at a press conference on Monday (16/04) that the trade surplus was caused by a USD $2.0 billion surplus in the non-oil & gas sector. The balance in the oil & gas sector, however, remained negative (showing a USD $924.5 million deficit in March).

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  • China's Slowing Economic Growth Negative for Indonesia

    The weakening growth trend of the Chinese economy may not have ended yet. Despite the nation's gross domestic product (GDP) growth rebounding to 6.9 percent year-on-year (y/y) in 2017, its economy is expected to cool in 2018 as a government-led crackdown on debt risks and factory pollution drags on overall activity in the world's second-largest economy. This is a problem for Indonesia as well because China is Indonesia's biggest trading partner.

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  • Current Account Balance of Indonesia: Expected to Widen in 2018

    Indonesia's current account balance - the sum of the balance of trade (goods and services exports less imports), net income from abroad and net current transfers - showed a deficit of 1.7 percent of gross domestic product (GDP) in 2017, narrowly improving from a 1.8 percent deficit in the preceding year and constituting the lowest deficit since 2012.

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  • Export Performance of Indonesia Improved But Lags Behind Peers

    Enggartiasto Lukita, Indonesian Trade Minister, said the nation's full-year 2017 exports climbed 16.2 percent year-on-year (y/y) to USD $168.7 billion. This is a positive growth pace. However, Indonesian President Joko Widodo, expressed his anger at Minister Lukita as Indonesia's export performance (especially in terms of value) lags far behind its counterparts in the Southeast Asian region.

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  • Improving Economy of China Positive for Indonesian Exports

    The economy of China grew 6.8 percent year-on-year (y/y) in the third quarter of 2017. An improving Chinese economy is important for the Indonesian economy as China is the biggest trading partner of Indonesia. Slightly over 10 percent of total Indonesian exports are shipped to China, the world's second-largest economy.

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  • Container Freight Tariffs for East Indonesia Raised by Shipping Firms

    Indonesia's private shipping companies have raised tariffs for container freight to the eastern region of Indonesia by 25 percent. Carmelita Hartoto, General Chairwoman of the Indonesian National Shipowner's Association (INSA), said shipping companies hiked these tariffs as the previous tariffs were set too low.

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Latest Columns Trade

  • Trade Deficit of Indonesia in 2014 Expected to Remain USD $4 Billion

    Statistics Indonesia (BPS), a non-departmental government institute, expects that Indonesia's trade balance will post a deficit of around USD $4 billion in 2014. The key question is whether increased manufacturing and agricultural exports can replace reduced raw mineral exports. The forecast of BPS is approximately similar to the country's trade deficit in 2013. Last year, Southeast Asia's largest economy recorded a deficit of USD $4.06 billion as the total value of exports amounted to USD $182.57 billion, while imports reached USD $186.63 billion.

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  • Despite December Trade Surplus Indonesia Posted $4.06B Deficit in 2013

    In the last month of 2013, Indonesia's trade balance posted a surplus of USD $1.52 billion, almost twice as high as economists had previously predicted. The December surplus implied Indonesia's third consecutive monthly trade surplus and fifth monthly trade surplus in full year 2013. However, considering the whole year, the trade balance still posted a deficit of USD $4.06 billion in 2013 as the total value of exports amounted to USD $182.57 billion while imports reached USD $186.63 billion.

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  • Analysis: What Caused Indonesia's Slowing Economic Growth in 2013

    On Wednesday 5 February 2014, Statistics Indonesia (BPS, a non-departmental government institute) is expected to release Indonesia's official GDP growth figure for the year 2013. It is estimated that the outcome will be the lowest GDP growth figure since 2009 when Southeast Asia's largest economy grew 4.6 percent after feeling the impact of the global financial crisis. In 2013, again, Indonesia felt the negative influence of external troubles. And in combination with domestic factors, Indonesia's economic growth is expected to be around 5.7 percent in 2013.

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  • Official Press Release Bank Indonesia: Interest Rates Left Unchanged

    Today, Bank Indonesia kept its benchmark interest rate (BI rate) at 7.50 percent at the Board of Governors’ meeting. The lending facility rate and deposit facility rate were maintained at 7.50 percent and 5.75 percent respectively. An assessment of the economy in 2013 and outlook for 2014-2015 indicated that such policy is consistent with ongoing efforts to keep inflation within the target of 4.5±1 percent in 2014 and 4±1 percent in 2015, as well as to help reduce the current account deficit to a sustainable level.

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  • Indonesia's Trade and Inflation Data Cause Positive Start of the Year

    Again positive news for Indonesia's trade balance. Last week, Statistics Indonesia announced that the largest economy of Southeast Asia posted a USD $776.8 million trade surplus in November 2013 (the largest monthly trade surplus since March 2012). After the (revised) USD $24 million trade surplus in October 2013, November was the second straight month in which the country posted a surplus. This development is important to gain investors' confidence as Indonesia's current account deficit has been a major cause for concern.

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  • Overview of the Performance of Indonesia's Stock Market in 2013

    As we approach the end of 2013 it is worth taking a look back to the performance of the stock market of Indonesia this year. At the start of the year, investors and analysts were positive that the country's benchmark stock index (known as the IHSG or Jakarta Composite Index) would post steady growth. Initial forecasts claimed that the IHSG could surpass the 5,000 points level by the end of 2013 from 4,300 at end-2012. The actual performance of the IHSG in fact exceeded expectations as in May 2013 the index moved beyond 5,200 points.

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  • Bank Indonesia: Current Account Deficit Will Continue to Ease in 2014

    The central bank of Indonesia (Bank Indonesia) estimates that Indonesia's current account deficit will ease to 3.5 percent of the country's gross domestic product (GDP) by the end of 2013. Indonesia's wide current account deficit has been one of the major financial troubles this year and managed to weaken investors' confidence in Southeast Asia's largest economy. Thus, Indonesia became one of the hardest hit emerging countries after the Federal Reserve started to speculate about an ending to its quantitative easing program.

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  • Indonesia's October 2013 Trade Surplus Provides a Glimmer of Hope

    Although widespread concerns about Indonesia's prolonged trade deficit (and current account deficit) are far from unfounded, the country's October 2013 trade data show a positive result. On Monday (02/12), Statistics Indonesia announced that Southeast Asia's largest economy posted a small trade surplus of USD $42.4 million in October after having recorded a trade deficit of USD $810 million in the previous month. This calender year (January to October 2013), the trade deficit has accumulated to USD $6.36 billion.

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  • Indonesia Financial Market Update: Indonesia's Current Account Deficit

    Currently, one of Indonesia's main financial issues (and one which puts serious pressures on the Indonesian rupiah exchange rate) is the country's wide current account deficit. According to data from Statistics Indonesia, Indonesia's current account deficit totaled USD $8.4 billion in the third quarter of 2013. This figure is equivalent to a whopping 3.8 percent of Indonesia's gross domestic product (GDP). Generally, a current account deficit that exceeds 2.5 percent of GDP is considered unsustainable.

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  • The Netherlands Sends Largest Ever Trade Mission to Indonesia

    This week, a group of Dutch politicians and businessmen, led by prime minister Mark Rutte, will pay a four day visit to Indonesia. The aim of the visit is to smoothen bilateral relations and search for business opportunities between both countries. This Dutch group, which includes more than one hundred Dutch company delegates, forms the largest Dutch trade delegation that has visited Southeast Asia's biggest economy in the modern history. However, relations between the Netherlands and Indonesia are still complex today.

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