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Indonesia Trade March 2024

Indonesia: Merchandise exports fall in March

Merchandise exports fell 4.6% over the same month last year in March (February: -10.8% year-on-year). March’s outturn marked the smallest contraction since May 2023. Meanwhile, merchandise imports dived 11.5% on an annual basis in March (February: +13.2% yoy), marking the weakest reading since August 2023.

As a result, the merchandise trade balance improved from the previous month, recording a USD 5.2 billion surplus in March (February 2024: USD 1.4 billion surplus; March 2023: USD 4.0 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 41.6 billion surplus in March, compared to the USD 40.4 billion surplus in February.

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