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.

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Indonesia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-28.20 -1392.90 4641.92 -2329.13 1960 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-15 04:00 AM Sep $-0.16B $0.08B $0.1B $ 0.2B
2019-11-15 02:00 AM Oct $0.16B $-0.16B $-0.28B $-0.3B
2019-12-16 04:00 AM Nov $-1.33B $0.17B $-0.13B $-0.2B
2020-01-15 04:00 AM Dec $-0.03B $-1.39B $-0.47B $-0.1B
2020-02-17 02:00 AM Jan $-0.03B $0.1B


News Stream
2019-12-16
Indonesia Trade Gap Narrows in November
Indonesia's trade deficit declined to USD 1.33 billion in November 2019 from a USD 2.05 billion in the same month a year earlier and defying market consensus of a USD 0.13 billion gap. Exports fell 5.67 percent, led by oil and gas (-15.81 percent) and non-oil and gas products (-4.68 percent); while imports dropped at a faster 9.24 percent, due to oil and gas (-25.55 percent) and non-oil and gas products (-5.91 percent). Considering the first eleven months of the year, the trade deficit narrowed sharply to USD 3.11 billion from USD 7.62 billion in the same period of 2018.

2019-11-15
Indonesia Unexpectedly Posts Trade Surplus
Indonesia unexpectedly posted a trade surplus of USD 0.16 billion in October 2019, swinging from a USD 1.76 billion deficit in the same month a year earlier and beating market consensus of a USD 0.20 billion gap. Exports fell 6.13 percent, led by oil and gas (-40.07 percent) and non-oil and gas products (-2.48 percent); while imports dropped at a faster 16.39 percent, due to oil and gas (-39.82 percent) and non-oil and gas products (-11.75 percent). Considering the first ten months of the year, the trade deficit narrowed sharply to USD 1.79 billion from USD 5.58 billion in the same period of 2018.

2019-10-15
Indonesia Trade Balance Swings to Deficit
Indonesia unexpectedly posted a trade deficit of USD 0.16 billion in September 2019, swinging from a USD 0.35 billion surplus in the same month a year earlier and missing market consensus of a USD 0.10 billion surplus. Exports fell 5.74 percent, led by oil and gas (-37.13 percent) and non-oil and gas products (-2.70 percent); while imports dropped at a softer 2.41 percent, due to oil and gas (-30.50 percent) while non-oil and gas products rose (2.82 percent). Considering the first nine months of the year, the trade deficit narrowed sharply to USD 1.95 billion from USD 3.82 billion in the same period of 2018.

2019-09-16
Indonesia Trade Balance Swings to Surplus
Indonesia posted a trade surplus of USD 0.085 billion in August 2019, compared to a USD 0.95 billion gap in the same month a year earlier but below market consensus of a USD 0.19 billion surplus. Exports fell 9.99 percent, led by oil and gas (-38.52 percent) and non-oil and gas products (-7.18 percent); while imports dropped at a faster 15.60 percent, due to oil and gas (-46.47 percent) and non-oil and gas products (-8.77 percent). Considering the first eight months of the year, the trade deficit narrowed sharply to USD 1.81 billion from USD 4.16 billion in the same period of 2018.

2019-08-15
Indonesia Trade Gap Narrows Sharply in July
Indonesia’s trade deficit narrowed sharply to USD 0.06 billion in July 2019 from a USD 2 billion in the same month a year earlier and below market consensus of USD 0.42 billion. Exports fell 5.12 percent year-on-year to USD 15.45 billion while imports dropped at a faster 15.21 percent to USD 15.51 billion. Considering the first seven months of the year, the trade balance recorded a deficit of USD 1.90 billion, compared with a deficit of USD 3.21 billion in the same period of 2018.

2019-07-15
Indonesia Trade Surplus Smaller than Estimated
Indonesia’s trade surplus narrowed sharply to USD 0.20 billion in June 2019 from a USD 1.71 billion in the same month a year earlier and below market consensus of USD 0.69 billion. Exports fell 8.98 percent year-on-year to USD 11.78 billion while imports rose 2.80 percent to USD 11.58 billion. Considering the first half of the year, the trade balance recorded a deficit of USD 1.93 billion, compared with a deficit of USD 1.20 billion in the same period of 2018.


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. .

Indonesia Trade Last Previous Highest Lowest Unit
Balance of Trade -28.20 -1392.90 4641.92 -2329.13 USD Million [+]
Current Account -7665.00 -8152.00 3795.00 -10125.60 USD Million [+]
Current Account to GDP -3.00 -1.60 4.80 -6.80 percent [+]
Imports 14501.30 15340.50 18297.15 21.00 USD Million [+]
Exports 14473.10 13947.60 18647.83 30.00 USD Million [+]
External Debt 395634.41 391827.59 395634.41 119594.10 USD Million [+]
Terms of Trade 106.76 105.89 117.70 77.43 points [+]
Foreign Direct Investment 105.00 104.90 112.00 35.40 IDR Trillion [+]
Remittances 2898.41 2784.40 2898.41 1202.00 USD Million [+]
Tourist Arrivals 1291117.00 1354396.00 1555346.00 548821.00 [+]
Gold Reserves 78.54 78.54 96.45 73.09 Tonnes [+]
Crude Oil Production 700.00 659.00 1720.00 659.00 BBL/D/1K [+]
Terrorism Index 5.07 4.54 6.55 3.92 [+]
Weapons Sales 15.00 94.00 94.00 1.00 USD Million [+]