Indonesia posted a trade surplus USD 0.33 billion in February 2019, swinging from a USD 0.05 billion deficit in the same month a year earlier and beating market consensus of a USD 0.7 billion gap. It was the first trade surplus since September last year, as exports tumbled 11.33 percent year-on-year while imports slumped at a faster 13.98 percent. Considering the first two months of the year, the trade balance recorded a deficit of USD 0.73 billion, compared with a deficit of USD 0.81 billion in the same period of 2018. Balance of Trade in Indonesia averaged 738.59 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.

Balance of Trade in Indonesia is expected to be -300.00 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 431.00 in 12 months time. In the long-term, the Indonesia Balance of Trade is projected to trend around 300.00 USD Million in 2020, according to our econometric models.

Indonesia Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-17 04:00 AM Balance of Trade $-2.05B $-1.77B $-0.83B $ -1.6B
2019-01-15 04:00 AM Balance of Trade $-1.1B $-1.97B $-0.93B $0.9B
2019-02-15 02:00 AM Balance of Trade $-1.16B $-1.03B $-0.97B $-1.5B
2019-03-15 02:00 AM Balance of Trade $0.33B $-1.06B $-0.7B $-1B
2019-04-15 04:00 AM Balance of Trade $0.33B
2019-05-15 04:00 AM Balance of Trade
2019-06-17 04:00 AM Balance of Trade



Indonesia Trade Balance Swings to Surplus in February

Indonesia posted a trade surplus USD 0.33 billion in February 2019, swinging from a USD 0.05 billion deficit in the same month a year earlier and beating market consensus of a USD 0.7 billion gap. It was the first trade surplus since September last year, as exports tumbled 11.33 percent year-on-year while imports slumped at a faster 13.98 percent.

Exports tumbled 11.33 percent from a year earlier to USD 12.53 billion, worse than market consensus of a 4.5 percent fall and after a downwardly revised 4.3 percent drop in the prior month. It was the fourth straight month of decrease in exports and the steepest annual decline since June 2017. Sales of oil and gas products slumped by 21.75 percent to USD 1.09 billion while those of non-oil and gas tumbled by 10.19 percent to USD 11.44 billion. 

Compared to the previous month, exports fell 10.03 percent, as sales oil and gas dropped by 11.85 percent while those non-oil and gas products decreased 9.85 percent. By categories, outbound shipments went down for animal/vegetable oils and fats (-13.27 percent); organic chemicals (-31.98 percent); mineral fuel (-14.54 percent); ore, metal crust and metal ash (-50.32 percent); and footwear (-29.53 percent). In contrast, sales increased for inorganic chemicals (28.00 percent); copper (87.88 percent); jewelery (53.03 percent); and pulp (38.70 percent).
 
Sales declined to: the US (-15.79 percent); China (-11.07 percent); Japan (-13.57 percent); Thailand (-5.52 percent); Germany (-25.82 percent); Australia (-18.47 percent); India (-4.74 percent); Italy (-38.06 percent); Taiwan (-34.23 percent); South Korea (-11.02 percent); and the Netherlands (-9.49 percent). Meanwhile, sales to both Malaysia (16.33 percent) and Singapore (0.66 percent) increased.
 
Imports slumped unexpectedly by 13.98 percent from a year earlier to USD 12.20 billion in February, following an upwardlly revised 2.1 percent drop in the prior month, compared to market expectations of a 0.3 percent growth. It marked the second straight month of yearly drop in inbound shipments and the steepest since June 2017, amid efforts from the government to reduce purchases and help manage the country's current account deficit. Purchases of oil and gas tumbled by 30.53 percent to USD 1.55 billion while those of non-oil and gas dropped 10.89 percent to USD 10.65 billion.  

Compared to the prior month, imports slumped by 18.61 percent, with purchases of non-oil and gas plunged 20.14 percent while those of oil and gas fell by 6.28 percent. Imports went down for all categories: raw material (-21.11 percent); consumption goods (-17.43 percent); and capital goods (-7.09 percent). Among major trading partners, imports decreased from: the US (-20.16 percent); China (-25.87 percent); Japan (-6.77 percent); South Korea (-5.40 percent); Taiwan (-34.94 percent); Singapore (-32.38 percent); Germany (-32.78 percent); the Netherlands (-15.34 percent); Malaysia (-28.52 percent); Australia (-9.87 percent), and Italy (-33.41 percent). Meantime, imports increased to India (5.29 percent); and Thailand (10.13 percent).

Considering January to February of 2019, the trade balance recorded a deficit of USD 0.73 billion, compared with a deficit of USD 0.81 billion in the same period of 2018.


Statistics Indonesia l Chusnul Ch Manan | chusnul@tradingeconomics.com
3/15/2019 11:07:49 AM



Indonesia Trade Last Previous Highest Lowest Unit
Balance of Trade 329.50 -1063.50 4641.92 -2329.13 USD Million [+]
Current Account -9148.00 -8625.00 3795.00 -10125.60 USD Million [+]
Current Account to GDP -3.00 -1.60 4.80 -6.80 percent [+]
Imports 12202.10 14991.40 18297.10 21.00 USD Million [+]
Exports 12531.60 13927.90 18647.83 30.00 USD Million [+]
External Debt 376839.29 359793.63 376839.29 119594.10 USD Million [+]
Terms of Trade 104.81 104.24 117.70 77.43 Index Points [+]
Foreign Direct Investment 99.00 89.10 112.00 35.40 IDR Trillion [+]
Remittances 2711.00 2802.00 2802.00 1202.00 USD Million [+]
Tourist Arrivals 1158162.00 1405536.00 1536489.00 548821.00 [+]
Gold Reserves 78.50 78.50 96.45 73.09 Tonnes [+]
Crude Oil Production 747.00 777.00 1720.00 747.00 BBL/D/1K [+]
Terrorism Index 4.54 4.55 6.55 3.92 [+]
Weapons Sales 102.00 94.00 102.00 1.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Indonesia Balance of Trade

Since the 1970’s Indonesia has been recording consistent trade surpluses due to robust exports growth. However, from 2012 to 2014 the country started recording trade deficits, as exports shrank due to slowdown in the global economy and fall in commodity prices. In 2015, trade balance swang again to surplus due to almost 20 percent fall in imports. In recent years, the biggest trade deficits were recorded with China, Thailand, Japan, Germany and South Korea. Indonesia records trade surpluses mainly with India, United States, and Malaysia. . This page provides the latest reported value for - Indonesia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Indonesia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
329.50 -1063.50 4641.92 -2329.13 1960 - 2019 USD Million Monthly




Country Last Previous
Argentina 372.00 Jan/19
Australia 4549.00 Jan/19
Brazil 3670.00 Feb/19
Canada -4593.40 Dec/18
China 41.18 Feb/19
Euro Area 1547.90 Jan/19
France -4195.00 Jan/19
Germany 14500.00 Jan/19
India -9600.00 Feb/19
Indonesia 329.50 Feb/19
Italy 321.80 Jan/19
Japan 339.00 Feb/19
Mexico -4809.60 Jan/19
Netherlands 2868.00 Jan/19
Russia 13368.00 Jan/19
Saudi Arabia 184673.00 Sep/18
Singapore 5198.50 Feb/19
South Africa -13082.76 Jan/19
South Korea 3098.00 Feb/19
Spain -4483276.00 Jan/19
Switzerland 2037.56 Feb/19
Turkey -2503.45 Jan/19
United Kingdom -3825.00 Jan/19
United States -59769.00 Dec/18


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