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Today's Headlines Trade Balance

  • Import & Export: BPS Releases Indonesia's February Trade Data

    Indonesia Statistics (BPS) announced on Wednesday (15/03) that Indonesia's exports and imports grew at a slower pace in February 2017 (compared to the preceding month). This performance was in line with expectations. While Indonesia's exports grew 11.16 percent year-on-year (y/y) to USD $12.57 billion in February 2017, its imports grew 10.61 percent (y/y) to USD $11.26 billion over the same period.

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  • Trade Balance Surplus Indonesia at USD $1.40 billion in January 2017

    Due to rising commodity prices Indonesia saw its export performance surge in January 2017. According to the latest data from Indonesia's Statistics Agency (BPS), Indonesia's exports grew 27.71 percent year-on-year (y/y) to USD $13.38 billion from the same month one year earlier, the fastest pace of export value growth since September 2011 and also exceeding analysts' estimates. This export growth was particularly attributed to higher prices of coal and crude palm oil (CPO).

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  • Balance of Trade: Indonesia's Export & Import Ease in 2016

    Indonesia's Statistics Agency (BPS) informed that both the nation's exports and imports rose for a third straight month (on a year-on-year basis) in December 2016. However, the growth pace slowed compared to the preceding month. Indonesia's exports climbed 15.6 percent (y/y) to USD $13.77 billion in the last month of 2016, slightly exceeding expectations and touching the highest export earnings of the past 24 months. Meanwhile, Indonesia's imports climbed 5.8 percent (y/y) to USD $12.78 billion in December 2016, also slightly surpassing expectations.

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  • CSIS: Protectionism Undermines Indonesia's Export Performance

    The Centre for Strategic and International Studies (CSIS) believes Indonesia's export performance can grow up to 3.2 percent year-on-year (y/y) in 2017 based on the most recent global growth projections. Yose Rizal, Head of the Economics Department within CSIS, said this 3.2 percent growth outlook is a modest one and Indonesia's export performance should actually perform better. In fact, for economic development of Indonesia, Rizal says export growth in the range of (at least) 4 - 5 percent (y/y) is required.

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  • Indonesia Revises Export Target, Reliance on Primary Commodities

    The slow recovery of global demand made Indonesia decide to revise down its export growth target for non-oil and gas products in 2017. Indonesian Trade Minister Enggartiasto Lukita said the government now targets a 5.6 percent year-on-year (y/y) growth in non-oil and gas exports (down from its earlier target of 11.9 percent y/y). This target is regarded as more realistic considering the slow recovery of international demand. To boost export growth in 2017 the government aims to diversify export markets as well as to, simply, export more products to existing export markets.

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  • November Trade Balance Indonesia: "Spectacular" Export Growth

    Indonesia's Statistics Agency (BPS) announced on Thursday (15/12) that the nation's export performance in November 2016 showed a sharp increase. Sasmito Hadi Wibowo, Deputy for Statistics Distribution and Services at BPS, said Indonesia's export growth was "rather spectacular" and gives rise to optimism that global demand and trade have improved. In November Indonesia posted a USD $838 million trade surplus, down from the revised USD $1.24 billion in the preceding month. In all of the first eleven months of 2016, Indonesia recorded a trade surplus.

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  • Trade Balance Indonesia: Exports & Imports Rising in October 2016

    Indonesia recorded a USD $1.21 billion trade surplus in October 2016 according to the latest data from the nation's Central Statistics Agency (BPS). In line with expectations both exports and imports rose last month supported by rising commodity prices (hence boosting the country's export performance) and an increase in machinery and electrical appliance imports into Indonesia. Meanwhile, BPS revised September's trade surplus to USD $1.27 billion, from USD $1.22 billion reported last month.

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  • Trade Balance Indonesia: Export & Import Down in September 2016

    Indonesia's Statistics Agency (BPS) announced that the nation's trade surplus improved to USD $1.22 billion in September 2016, the highest monthly surplus over the past 13 months. The rising surplus was primarily the result of a growing non-oil & gas trade surplus. However, both Indonesia's exports and imports contracted on an annual basis. But because imports declined more rapidly, Southeast Asia's largest economy managed to record a solid trade surplus in September, beating analysts' estimates, by far (that averaged around USD $450 million).

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  • Indonesia Posts USD $293.6 Million Trade Surplus in August 2016

    Although at a slower pace, Indonesia's exports and imports continued to contract in August 2016. In August Indonesia exported USD $12.63 billion worth of goods down 0.75 percent on a year-on-year basis (much better than analysts had forecast). Meanwhile, Indonesia imported USD $12.34 billion worth of goods in August, down 0.49 percent (y/y). As such, the trade balance in August showed a USD $293.6 million surplus. However, Indonesia's Statistics Agency (BPS) added that it was the 23rd month of declining imports and exports for Indonesia.

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  • Trade Balance Indonesia: $598 Million Surplus in July 2016

    Indonesia's Statistics Agency (BPS) announced on Monday (15/08) that the trade balance of Indonesia showed a surplus of USD $598 million in July 2016, down from a USD $879.2 million surplus in the preceding month and considerably below analyst forecasts. Although Indonesia, Southeast Asia's largest economy, booked a USD $4.2 billion trade surplus in the first seven months of 2016, concern about Indonesia's weakening exports and imports persist. Faster falling imports (compared to exports) explains the trade surplus.

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Latest Columns Trade Balance

  • Positive Domestic Data Support Indonesia's Jakarta Composite Index

    Previously we advised investors to be careful because various economic data that was to be released - both international and domestic - could reveal negative results and thus put great pressure on the benchmark stock index of Indonesia (IHSG or Jakarta Composite Index) on Tuesday (01/04). However, the data, particularly domestic data, were positive and made the IHSG jump 2.22 percent one day after the holiday on Monday (Nyepi or Hindu New Year). Investors used this context to purchase stocks, especially Indonesia's big cap stocks.

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  • Safeguarding Financial Stability: Some Notes on Indonesia's Trade Balance

    Although Indonesia is the world's largest archipelago, contains an abundance of commodities and has the world's fourth-largest population, the country's export and import figures are still small compared to the world's leading exporting and importing countries (see table below). There are many - and much smaller - countries that post much more impressive import and export data. In terms of exports, Indonesia is too dependent on commodities (accounting for around 60 percent of all exports) causing problems in times of price downswings.

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  • Without Reform, Indonesia's Oil Imports Reach 1.6 Million Bpd by 2020

    Imports of oil will accelerate to 1.6 million barrels per day (bpd) by 2020 if fuels continue to be subsidized by the Indonesian government. This development will seriously burden Indonesia's trade balance (and current account). In 2013, Indonesia posted a trade deficit of USD $12.6 billion in the oil & gas sector. Due to improved performance in the non-oil & gas sector, the overall trade deficit was kept at USD $4.06 billion. Besides placing downward pressure on the rupiah exchange rate, expensive subsidies also burden the state budget.

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  • Palm Oil Rich Indonesia Can Become a Global Force in the Biodiesel Industry

    Indonesia has the potential to become a global force in the biodiesel industry because of the country’s position as the world’s top producer of crude palm oil (CPO). In 2014, Indonesia’s CPO production is estimated to total 30 million tons. Traditionally, Indonesia exports about 75 percent of its total CPO production, particularly to the giant economies of China and India. As such, this commodity is one of Indonesia's most important foreign exchange earners, apart from coal, in the non-oil and gas sector.

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  • 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 February 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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  • Third Economic Policy Package Being Prepared by Indonesian Government

    Indonesian Economic Minister Hatta Rajasa said that the government is currently engaged in preparing a third economic policy package that aims to reduce the country's current account deficit. In August and December 2013, the government had already implemented two policy reform packages as Indonesia's wide current account deficit and high inflation in combination with the looming end of the Federal Reserve's quantitative easing program led to large capital outflows, thus resulting in sharp rupiah depreciation.

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  • Bank Indonesia: Trade Balance of Indonesia Expected to Improve in 2014

    The central bank of Indonesia (Bank Indonesia) believes that the USD $430 million trade deficit that was recorded in January 2014 is a normal result taking into account the implementation of the ban on exports of unprocessed minerals (which reduces exports of materials such as copper and nickel) and seasonal trends as exports are always lower in January than in December due the end of winter peak demand for raw materials and ongoing contractual negotiations at the beginning of each year.

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  • Bank Indonesia: Export Ban Causes Slowing Economy Eastern Regions

    The central bank of Indonesia (Bank Indonesia) believes that Indonesia's recently introduced ban on the export of unprocessed minerals, in effect since 12 January 2014, will result in slowing economic growth in several regions in the eastern part of Indonesia as these regions are main sources of mineral production. Doddy Zulverdi, Head of the Economic Assessment Group in Bank Indonesia's Department of Economic and Monetary Policy, said that Sulawesi and Kalimantan will post slowing economic growth this year.

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  • Indonesia's Current Account Deficit Expected to Ease Further in Q1-2014

    The current account deficit of Indonesia is expected to ease further in the first quarter of 2014 due to a possible slowdown of imports according to Deputy Finance Minister Bambang Brodjonegoro. This slowdown is estimated to be caused by the implementation of Indonesia's higher income tax on the import of durable consumer goods, effective from January 2014. However, the deficit will not ease markedly from the USD $4 billion deficit (equivalent to 1.98 percent of the country's gross domestic product) recorded in the fourth quarter of 2013.

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  • Official Press Release of Bank Indonesia: BI Rate Kept at 7.50%

    At Bank Indonesia's Board of Governors’ Meeting today (13/02), it was decided to maintain the country's benchmark interest rate (BI rate) at 7.50 percent as well as the interest rates on the Lending Facility and Deposit Facility at 7.50 percent and 5.75 percent respectively. The policy is consistent with the tight monetary policy stance currently adopted in order to steer inflation back towards its target corridor of 4.5±1 percent in 2014 and 4±1 percent in 2015, as well as to reduce the current account deficit to a more sustainable level.

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