Indonesia - Balanza comercial

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.

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.

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.

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.

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.

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.