Indonesia Trade Balance


Trade surplus widens in January

In January, exports grew 6.1% over the same month last year, which was well above the 1.5% expansion observed in December (previously reported: +2.2% year-on-year). Non-oil and gas exports, which account for the majority of Indonesian exports, rose 4.4% in January (December: +0.2% yoy). Meanwhile, oil and gas exports also accelerated from a 6.9% expansion in December to a 13.7% rise in January. Imports, on the other hand, decelerated from a 25.3% increase in December to a 16.0% rise in January. As a result, the trade surplus widened from USD 602 million in December to USD 923 million in January.


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