Merchandise Trade Balance in Indonesia
The merchandise trade balance in Indonesia averaged USD 19.9 billion in the decade to 2022. The 2022 reading was USD 62.7 billion. For more trade information, visit our dedicated page.
Indonesia Trade Chart
Indonesia Trade Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Merchandise Trade Balance (USD bn) | -0.2 | 3.5 | 28.3 | 43.8 | 62.7 |
Merchandise exports decline in November
Merchandise exports contracted 8.8% annually in November, on the heels of October’s 10.3% fall. The result marked the smallest contraction since May 2023. Meanwhile, merchandise imports expanded 3.1% on an annual basis in November (October: -4.9% yoy), marking the strongest reading since May 2023. As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.4 billion surplus in November (October 2023: USD 4.7 billion surplus; November 2022: USD 6.1 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 48.3 billion surplus in November, compared to the USD 51.0 billion surplus in October.
UOB analysts Enrico Tanuwidjaja and Agus Santoso commented on the outlook: “Going forward, we expect signs of China's economic recovery as reflected by the improving manufacturing PMI index and higher-than-expected imports to deliver some upside to demand for Indonesia’s exports. […] However, we do not exclude the possibility that the ongoing conflict in the Middle East could widen and dampen international trade activity and delay the ongoing recovery.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indonesian trade projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Indonesian trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indonesian trade projections.
Want to get access to the full dataset of Indonesian trade forecasts? Send an email to info@focus-economics.com.
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