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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 October trade surplus widened moderately to $3480mn from $3405mn, the highest in six months, due to export growth improving more than imports. Exports fell 10.4% y/y up from -16.2% the previous month and imports fell 2.4% up from -12.5%, both stronger than expected. The rupiah has strengthened 1.3% versus the dollar today on lower US CPI data. An improving trade position should support the currency over the medium-term.
- The trade data is nominal and so the totals are impacted by price movements, especially for commodities. Indonesia saw export prices fall on the month and year for its main commodities. Coal exports fell -38% y/y, palm oil -33.8% y/y and mining -28.6% y/y. Monthly export growth was driven by shipments of mineral fuels, precious metals, jewellery and footwear.
- YTD non-oil and gas exports fell 12.7% y/y to October due to lower prices but volume growth was positive.
- YTD imports fell 7.8% y/y with capital goods -12.7% but they rose 11.1% y/y for the month of October. Consumer goods rose 3.8% y/y.
Indonesia exports vs imports y/y% 3mma
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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