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Indonesia Trade Balance April 2021

Indonesia: Merchandise exports growth skyrockets in April

Merchandise exports skyrocketed 51.9% year-on-year in April, following March’s 30.0% surge and supported by surging oil and non-energy exports as well as by a low base effect. Meanwhile, merchandise imports jumped 29.9% in annual terms in April (March: +25.7% yoy).

The merchandise trade balance widened from the previous month, recording a USD 2.1 billion surplus in April (March: USD 1.6 billion surplus; April 2020: USD 0.4 billion deficit). Lastly, the trend strengthened, with the 12-month trailing merchandise trade balance recording a USD 27.2 billion surplus in April, compared to the USD 24.7 billion surplus in the previous month.

Commenting on the release, Nicholas Mapa, senior economist at ING, stated:

“The improving demand for Indonesia’s exports has translated into better economic prospects for the domestic market with the growth in exports tracked by a similar rise in PMI manufacturing numbers. Increased manufacturing activity will go a long way to helping jump-start the economic engines, with the authorities hopeful for a strong showing in 2Q. The return of growth for imports, although driven largely by base effects, could also be a sign that domestic demand is picking up – reflected in gradually improving consumer sentiment.”

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