Indonesia: Trade surplus widened above estimates – UOB
|Enrico Tanuwidjaja, Economist at UOB Group, assesses the recently published trade balance figures in Indonesia.
Key Takeaways
“Indonesia’s trade surplus widened again to USD5.8bn in Aug from USD 4.2bn in Jul, an increase of more than USD1.5bn and much higher than market expectations of USD 4.0bn.”
“Exports grew 30.1% y/y, beating market expectations of 20% by a wide margin to achieve almost USD 28bn, driven significantly by non-oil & gas exports that reached more than USD26bn. Import’s growth remained elevated at 32.8% y/y though slowing from 41.2% in Jul. However, imports growth rose faster than consensus estimates of 31.6%, reaching USD 22.2bn.”
“Given the momentum so far, we expect the overall trade surplus to surpass 2021’s record of more than USD35.4bn, amidst consistently stronger exports growth on the back of still-elevated global commodity 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.