Indonesia: Merchandise exports grow at a faster rate in December
Merchandise exports expanded 6.6% year-on-year in December (November: +5.5% year-on-year). Meanwhile, merchandise imports contracted 6.6% in annual terms in December (November: -1.9% yoy), marking the weakest reading since January 2021.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.9 billion surplus in December (November 2022: USD 5.1 billion surplus; December 2021: USD 1.0 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 54.5 billion surplus in December, compared to the USD 51.6 billion surplus in November.