Indonesia Trade Balance April 2020


Indonesia: Exports and imports plunge in April

May 15, 2020

Exports declined 7.0% year-on-year in April (March: -0.4% year-on-year; previously reported: -0.2% yoy) on lower energy and non-energy exports. Imports were down 18.6% (March: -0.7% yoy; previously reported: -0.8% yoy). Declines in both exports and imports were likely driven in significant part by Covid-19. As a result, Indonesia recorded a trade deficit of USD 0.3 billion.

Digging deeper into the figures, analysts at Nomura commented: “As we expected, the impact of the COVID-19 outbreak has been stronger since March, suggesting export growth should deteriorate further. By destination, non-O&G exports to the US and Germany fell significantly […]. However, non-O&G export growth to China picked up to 6% y-o-y in April from March's 0.3%. Indonesia’s non-O&G imports from China also improved slightly to -6% y-o-y in April, after a 7% decline in March, which is also consistent with China's export rebound in April due to the backlog built up owing to slow business resumption in Q1 and a surge in exports of antivirus medical supplies.”

Our panelists forecast that in 2020 exports will decrease 10.1% and imports will decline 13.6%, with a trade surplus of USD 3.0 billion. In 2021, FocusEconomics panelists expect exports will expand 12.4%, while imports will rise 12.8%, with a trade surplus of USD 2.7 billion.


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Indonesia Trade Balance Chart

Indonesia Trade12m April 20 20

Note: 12-month trade balance in USD billion and annual variation of exports and imports over the last 12 months in %.
Source: Statistics Indonesia (BPS) and FocusEconomics calculations.

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