Indonesia skyline

Trade in Indonesia

Indonesia Trade

Merchandise exports drop in July

Merchandise exports dived 18.0% in annual terms in July, following June’s 21.2% dive. Meanwhile, merchandise imports decreased 8.3% over the same month last year in July (June: -18.3% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.3 billion surplus in July (June 2023: USD 3.5 billion surplus; July 2022: USD 4.1 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 46.6 billion surplus in July, compared to the USD 49.4 billion surplus in June.

On the implications of July’s reading, ING analyst Nicholas Mapa commented:

“The continued narrowing of the trade surplus for Indonesia points to a fading key support for the rupiah, which enjoyed a boost in 2022 when the trade surplus hit a record high of $7.5bn. This development could be telling for the IDR, which has been under pressure of late and down roughly 1.5% for the month of August. Indonesia recently asked exporters to retain a portion of export receipts onshore to help improve dollar liquidity, a potential counter to the narrowing trade surplus.”

Indonesia Trade Chart

This chart displays Merchandise Trade Balance (USD bn) for Indonesia from 2013 to 2022.

Indonesia Trade Data

2018 2019 2020 2021 2022
Merchandise Trade Balance (USD bn) -0.2 3.5 28.3 43.8 62.7

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest