Indonesia Trade Balance September 2021


Indonesia: Merchandise exports grow at a slower pace in September

October 15, 2021

Merchandise exports shot up 47.6% in annual terms in September, following August’s 64.1% upturn. Meanwhile, merchandise imports soared 40.3% in annual terms in September (August: +55.3% yoy), marking the worst result since April 2021.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.4 billion surplus in September (August 2021: USD 4.7 billion surplus; September 2020: USD 2.4 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 33.3 billion surplus in September, compared to the USD 31.4 billion surplus in August.

Our panelists forecast that in 2021 exports will increase 14.7% and imports will rise 14.0%, with a trade surplus of USD 20.7 billion. In 2021, FocusEconomics panelists expect exports will expand 3.1%, while imports will rise 7.9%, with a trade surplus of USD 13.3 billion.


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