Indonesia Trade Balance February 2022


Indonesia: Merchandise exports gain steam in February

March 15, 2022

Merchandise exports soared 34.1% year-on-year in February (January: +25.3% year-on-year). Meanwhile, merchandise imports shot up 25.4% in annual terms in February (January: +36.8% yoy), marking the slowest result since February 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 3.8 billion surplus in February (January 2022: USD 0.9 billion surplus; February 2021: USD 2.0 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 34.6 billion surplus in February, compared to the USD 34.3 billion surplus in January.

Our panelists forecast that in 2022 exports will increase 10.3% and imports will rise 15.4%, with a trade surplus of USD 27.4 billion. In 2023, FocusEconomics panelists expect exports will expand 3.7%, while imports will rise 8.2%, with a trade surplus of USD 18.4 billion.


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