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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
Indonesia’s April trade surplus printed better than expected but still narrowed to $3.56bn from $4.58bn. Export growth picked up to 1.7% y/y from -3.8% while import to +4.6% y/y from -12.8%. The surplus appears to have stabilised after coming off its late 2022 peaks helped by an improvement in the terms of trade. USDIDR is lower today at around 16072 to be down 1.2% in May.
- The year-to-date surplus is at $10.97bn down substantially from $16.05bn over the same period in 2023. Exports over January – April fell 5.1% y/y and imports rose 0.9% y/y supported by a robust domestic economy.
- Exports of manufactured goods drove export growth rising 8.1% y/y with agriculture up 2.1% but mining shrinking 17%. Shipments to most of Asia were weak with China down 7.4% y/y and Japan -1.8% but rising 11.5% y/y to the US.
- Capital goods imports rose 13.6% y/y and raw materials +3.4%, which is unsurprising given the significant infrastructure building currently being undertaken. Consumer goods rose 0.6% y/y.
Indonesia trade balance US$mn 3-month moving average
Source: MNI - Market News/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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