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Indonesia Trade February 2024

Indonesia: Merchandise exports drop in February

Merchandise exports sank 10.7% over the same month last year in February (January: -8.3% year-on-year). Meanwhile, merchandise imports jumped 11.6% on an annual basis in February (January: -0.6% yoy), marking the strongest result since October 2022.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.7 billion surplus in February (January 2024: USD 3.1 billion surplus; February 2023: USD 5.8 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 41.8 billion surplus in February, compared to the USD 45.9 billion surplus in January.

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