Indonesia's trade deficit declined sharply to USD 0.03 billion in December 2019 from a USD 1.07 billion in the same month a year earlier and better than market consensus of a USD 0.47 billion gap. Exports rose 1.28 percent, due to non-oil and gas products (5.78 percent) while those of oil and gas fell (-31.93 percent); while imports dropped 5.62 percent, due to non-oil and gas products (-7.28 percent), while oil and gas rose (5.33 percent). Considering full year 2019, the trade deficit narrowed sharply to USD 3.20 billion from USD 8.70 billion in 2018. Balance of Trade in Indonesia averaged 724.25 USD Million from 1960 until 2019, reaching an all time high of 4641.92 USD Million in December of 2006 and a record low of -2329.13 USD Million in July of 2013. source: Statistics Indonesia
Balance of Trade in Indonesia is expected to be -800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Indonesia to stand at 300.00 in 12 months time. In the long-term, the Indonesia Balance of Trade is projected to trend around 200.00 USD Million in 2020, according to our econometric models.