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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INDONESIA
The Indonesian trade surplus for September was better than expected at $4.99bn after $5.71bn in August. Both export and import growth came in below expectations at 20.3% y/y and 22.0% y/y respectively, but remain at elevated growth rates (see chart). The surplus was more-than-accounted for by the non-oil & gas component ($7.09bn) with oil & gas posting a deficit of $2.1bn.
- Exports year-to-date remain robust at 33.5% y/y and imports +28.9% y/y.
- While monthly comparisons are difficult as the data is not seasonally adjusted, Statistics Indonesia mentions them in its press release. Exports fell 11% m/m in September due to weakness in Indonesia’s second largest export, animal / vegetable fats or oils, but ores, slag and ash were very strong (8th largest export).
- Import growth was positive in all of the main groups over January to September compared to the same period a year ago, as domestic demand recovers.
- Non-oil exports to China remained robust up 35.5% y/y (largest export destination) and 36.3% y/y to Japan but fell 9.7% y/y to the US.
Indonesia trade y/y% 3mma
Source: MNI - Market News, Statistics Indonesia, Refinitiv
Indonesia exports ex oil & gas y/y% 3mma
Source: MNI - Market News, Statistics Indonesia, Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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