Indonesia: Merchandise exports contract at sharper pace in April
Merchandise exports fell 29.4% year-on-year in April (March: -11.6% year-on-year). Falling exports of oil and gas and non-oil and gas were behind the reading. Meanwhile, merchandise imports fell 22.3% in annual terms in April (March: -6.3% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.9 billion surplus in April (March 2023: USD 2.8 billion surplus; April 2022: USD 7.6 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 53.7 billion surplus in April, compared to the USD 57.3 billion surplus in March.