Indonesia Trade Balance


Indonesia: Exports slow but trade balance narrows in September

November 3, 2014

Exports increased 3.9% in September over the same month last year, which was down significantly from the 10.7% expansion observed in August. Non-oil and gas exports, which account for the majority of Indonesian shipments, slowed to a 2.9% increase in September (August: +14.7% year-on-year). In contrast, oil and gas exports rebounded to an 8.6% expansion (August: -4.5% yoy). Meanwhile, imports tumbled from a 13.7% expansion in August to a 0.2% increase in September.

The trade balance narrowed from a USD 312 million deficit in August to a USD 270 shortfall in September, which was also much smaller than the USD 803 million deficit recorded in the same month last year. However, the reading was slightly better than the USD 290 million deficit the market had expected. Meanwhile, the 12-month moving sum of the trade balance posted a surplus of USD 0.7 billion in September, which was above the USD 0.1 billion surplus observed in August.

FocusEconomics Consensus Forecast panelists expect exports to expand 4.1% and see the trade balance reaching a USD 6.5 billion surplus in 2014. For 2015, the panel expects exports to grow 9.2% and expect the trade surplus to reach USD 9.8 billion.

Author:, Economist

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Indonesia Trade Balance Chart

Indonesia Trade12m September 2014

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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