Indonesia Trade Balance


Indonesia: Exports drop again in May, but trade balance recovers

July 1, 2014

Exports fell a substantial 8.1% over the same month last year in May. The result followed the 3.2% decrease observed in April and marked the lowest print in 13 months. Non-oil and gas exports, which account for the majority of Indonesian shipments, contracted 5.7% in May (April: -5.4% year-on-year). Oil and gas exports plunged 18.8% (April: +8.1% yoy). Meanwhile, imports contracted 11.4% in May, which followed the 1.3% decrease recorded in April.

The trade balance rebounded from a USD 2.0 billion deficit in April to a modest USD 70 million surplus in May, which also contrasted the USD 500 million shortfall recorded in the same month last year. Moreover, the surplus contrasted market expectations of a USD 150 million deficit. Meanwhile, the 12-month moving sum of the trade balance posted a shortfall of USD 2.4 billion, which was smaller than the USD 3.0 billion deficit observed in April.

FocusEconomics Consensus Forecast panelists expect exports to expand 4.4% and see the trade balance reaching a USD 6.6 billion surplus in 2014. For 2015, the panel expects exports to grow 9.2% and expect the trade surplus to reach USD 9.9 billion.

Author:, Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m May 2014 0

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

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