Indonesia: Trade balance figures remain solid – UOB
|Economist at UOB Group Enrico Tanuwidjaja reviews the latest trade balance results in Indonesia.
Key Takeaways
“Sep’s trade surplus came in at USD5bn and with that, Indonesia’s cumulative trade surplus this year up to Sep 22 widened to just a touch below USD40bn. We believe it will exceed that mark by the end of this year and clinch a historic high for Indonesia’s trade position, currently already at record high.”
“However, exports and imports growth came in below expectations at 20.3% and 22.0% y/y respectively, well below forecast of 28.6% and 33.4% by a wide margin. Exports stood at USD24.8bn in Sep and imports at USD19.8bn.”
“Non-oil & gas exports continued to drive overall exports down while oil & gas imports remained elevated, though the latter was slightly down amidst easing crude oil prices.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.