In August, exports contracted a whopping 24.3% over the same month last year, which followed the 7.6% decline observed in July (previously reported: -7.3% year-on-year) and exceeded the 12.6% decrease expected by the market. In fact, exports declined at the fastest pace since June 2009. Non-oil and gas exports, which account for the majority of Indonesian shipments, fell 22.6% in August (July: -3.3% yoy). Meanwhile, oil and gas exports fell 30.3% in August (July: -23.2% yoy). Moreover, imports fell for the first time since November 2009 and contracted 8.0%, which contrasted the 0.9% rise recorded in July and market expectations of a 7.6% increase. As a result, the trade balance registered its first surplus in five months and reached USD 248 million, which was well below the USD 3.6 billion surplus registered in the same month last year and contrasted market expectations of a USD 60 million shortfall.
Indonesia Trade Balance
Exports and imports fell most in three years
October 1, 2012
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Indonesia Trade Balance Chart
Indonesia Economic News
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
October 12, 2016
Retail sales in August expanded 14.4% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).
October 3, 2016
In September, consumer prices increased 0.22% from the previous month, which contrasted the 0.02% fall recorded in August.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) rose from 50.4 in August to 50.9 in September, according to a release provided by Nikkei and IHS Markit.
September 22, 2016
At its 21–22 September monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.25% to 5.00%.