Trade Balance Indonesia: Largest Ever Monthly Trade Deficit in April 2019
Indonesia experienced its largest ever monthly trade deficit in April 2019. Based on the latest data from Statistics Indonesia (BPS), which were released on Wednesday (15.05.2019), Southeast Asia's largest economy recorded a USD $2.50 billion trade deficit.
Amid the challenging external environment (most notably: subdued global economic growth and the USA-China tariff war), Indonesian exports tumbled 13.1 percent year-on-year (y/y) to USD $12.60 billion, while imports into Indonesia fell at a slower pace, namely 6.6 percent (y/y) to USD $15.10 billion in April 2019.
Interestingly enough, BPS Head Suhariyanto did not detect a significant increase in imports related to the Ramadan month and subsequent Idul Fitri celebrations (a period that traditionally gives rise to a major boost in consumption). However, he did detect a steep increase in oil and gas imports into Indonesia (on a month-on-month basis) that put great pressure on the latest trade balance.
This article discusses the following:
• Update on Indonesia's April 2019 trade balance (zooming in on the nation's exports and imports)
Read the full article in the May 2019 edition of our monthly research report. You can purchase the report by sending an email to info@indonesia-investments.com or a WhatsApp message to the following number: +62(0)8788.410.6944
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