Indonesia: Merchandise exports decrease at a milder pace in September
October 15, 2020
Merchandise exports fell 0.5% annually in September (August: -8.2% year-on-year), as higher non-energy exports largely offset lower energy exports. Meanwhile, merchandise imports plummeted 18.9% in annual terms in September (August: -24.2% yoy), likely as domestic restrictions continued to weigh on demand. As a result, the merchandise trade balance recorded a USD 2.4 billion surplus in September (August: USD 2.4 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 12.2 billion surplus in September, compared to the USD 9.5 billion surplus in August.
Looking ahead, export and import performance should gradually improve as the global recovery takes place and amid a supportive base effect, although the outlook is highly uncertain.