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Today's Headlines Export

  • Trade Balance of Indonesia Swings Back into a Surplus in October 2019

    Indonesia’s trade balance swung back into a surplus in October 2019. Statistics Indonesia (BPS), which released the country’s latest trade data on 15 November 2019, reported a USD $161 million trade surplus for Indonesia in October. It is an improvement from the USD $164 million trade deficit the country had experienced in the preceding month, and a huge improvement from the USD $1.76 billion trade deficit in the same month one year earlier (October 2018).

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  • Trade Balance of Indonesia Swings Back into Deficit in July 2019

    Indonesia’s trade balance swung back into a deficit in July 2019 as the country’s exports could not compensate for its imports. However, at USD $63 million, the monthly deficit is not too big (compared to the USD $2.3 billion and USD $1.1 billion deficits that were recorded in April and January, respectively).

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  • Trade Balance Indonesia: Bouncing Back to a Surplus in May but Outlook Remains Gloomy

    After the massive USD $2.29 billion trade deficit in April 2019 (which was the biggest monthly trade deficit in six years), Indonesia managed to turn the balance into a USD $206.7 million surplus in May 2019. Albeit small, Indonesian policymakers must have been relieved seeing the surplus as previously there were mixed opinions whether Indonesia would record a surplus or deficit in May.

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  • Indonesia-Chile CEPA to Come into Effect in August 2019

    On 11 June 2019, Indonesian Trade Minister Enggartiasto Lukita met Chilean Vice-Minister of Trade Rodrigo Yanez Benitez to exchange an instrument of ratification of the Indonesia-Chile Comprehensive Economic Partnership Agreement (IC-CEPA). The IC-CEPA, Indonesia’s first trade agreement with a Latin American country, is set to come into effect on 10 August 2019.

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  • Trade Balance Indonesia: Second Consecutive Monthly Surplus in March

    It was a welcome surprise to see Indonesia recording a trade surplus of USD $540.2 million in March 2019, extending the monthly trade surplus to two (straight) months, which is something we had not seen in more than a year. However, when we take a look at the first quarter of 2019, then Indonesia’s overall trade balance still shows a deficit of USD $193.4 million.

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  • Current Account Remains Indonesia's Achilles' Heel; Trade Balance Concerns Persist

    Indonesia’s current account deficit widened to USD $31.1 billion, equivalent to 2.98 percent of the country’s gross domestic product (GDP), in full-year 2018. It is a big deterioration compared to the USD $17.29 billion deficit (1.7 percent of GDP) in the preceding year. It means the current account balance remains the Achilles’ heel of the Indonesian economy, one that – potentially - triggers rapid and large capital outflows in times of global economic turmoil.

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  • Current Account Balance Remains Achilles' Heel of Indonesia

    Indonesia’s current account deficit widened to USD $31.1 billion, equivalent to 2.98 percent of the country’s gross domestic product (GDP), in full-year 2018. It is a big deterioration compared to the USD $17.29 billion deficit (1.7 percent of GDP) in the preceding year. It means the current account balance remains the Achilles’ heel of the Indonesian economy, one that - potentially - triggers rapid and large capital outflows in times of global economic turmoil.

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  • Indonesia-EFTA CEPA Trade Deal Signed, Will it Bring New Trade Opportunities?

    On Sunday 16 December 2018 Indonesia and the European Free Trade Association (EFTA), which consists of non-EU member countries Switzerland, Norway, Liechtenstein and Iceland, signed the Indonesia-EFTA Comprehensive Economic Partnership Agreement (CEPA). The signing ceremony, which was held in Indonesia’s capital city of Jakarta, effectively ends nearly eight years of negotiations between both sides.

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Latest Columns Export

  • ICRA Indonesia’s Economic Review; an Update on the Macroeconomy

    ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the January 2014 edition, a number of important topics that are monitored include Indonesia's inflation rate, the trade balance, the current account deficit, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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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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  • Standard Chartered Bank: Indonesian Economy Expands 5.8% in 2014

    The Standard Chartered Bank expects Indonesia's economy to expand 5.8 percent in 2014, followed by a 6 percentage growth in 2015 as an improving global economy has a positive effect on emerging economies, including Indonesia. The world economy is estimated to grow between 3.2 and 3.5 percent this year and expected to accelerate to 3.8 percent in 2015. David Mann, the regional Head of Research at the Standard Chartered Bank in Asia, said that Indonesia's economic performance in 2013 was negatively influenced by external factors.

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  • Analyst Opinion: Bank Indonesia's Interest Rate Might Be Raised Again

    According to Fauzi Ichsan, Managing Director at Bank Standard Chartered Indonesia, there is a possibility that Indonesia's central bank (Bank Indonesia) will raise its benchmark interest rate (BI rate) from 7.50 percent to 8 percent at the next Board of Governor's Meeting as the country's current account deficit has not improved markedly yet. The deficit stood at about 3.5 percent of the country's gross domestic product (GDP) at the end of 2013. Bank Indonesia intends to lower the deficit to a sustainable level of below 3 percent in 2014.

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  • ICRA Indonesia’s Monthly Economic Review; a Macroeconomic Update

    ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the December 2013 edition, a number of important topics that are monitored include Indonesia's inflation rate, the trade balance, the current account deficit, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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  • Softer Rules but Unclarity Remains about Indonesia's Ore Export Ban

    On Sunday (12/01), one of the most important new laws in the recent history of Indonesia came in force. Mining Law Nr.4/2009, which prohibits the export of unprocessed minerals from Southeast Asia's largest economy, was implemented. However, it was not implemented in its original form. The president of Indonesia, Susilo Bambang Yudhoyono, signed a last-minute regulation which softens the impact of the new law by allowing mining companies to continue exports of copper, manganese, zinc, lead and iron ore concentrate until 2017.

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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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  • 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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  • Monthly Economic Review: Overview of Indonesia's Macroeconomic Data

    ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the November 2013 edition, a number of important issues that are monitored include Indonesia's inflation rate, the trade balance, the current account deficit, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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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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