Indonesia’s trade deficit widened to USD 2.50 billion in April 2019 from a USD 1.67 billion gap in the same month a year earlier and compared to a market consensus of a USD 0.5 billion gap. It was the largest trade gap on record, as exports tumbled 13.1 percent year-on-year while imports fell at a softer 6.58 percent. Considering the first four months of the year, the trade balance recorded a deficit of USD 2.56 billion, compared with a deficit of USD 1.41 billion in the same period of 2018. Balance of Trade in Indonesia averaged 738.59 USD Million from 1960 until 2019, reaching an all time high of 4641.92 USD Million in December of 2006 and a record low of -2329.13 USD Million in July of 2013.

Balance of Trade in Indonesia is expected to be -300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Indonesia to stand at 431.00 in 12 months time. In the long-term, the Indonesia Balance of Trade is projected to trend around 300.00 USD Million in 2020, according to our econometric models.

Indonesia Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-15 02:00 AM Balance of Trade $-1.16B $-1.03B $-0.97B $-1.5B
2019-03-15 02:00 AM Balance of Trade $0.33B $-1.06B $-0.7B $-1B
2019-04-15 04:00 AM Balance of Trade $0.54B $0.33B $-0.18B
2019-05-15 04:00 AM Balance of Trade $-2.5B $0.67B $-0.5B $-1.0B
2019-06-17 04:00 AM Balance of Trade $-2.5B $-1.4B
2019-07-15 04:00 AM Balance of Trade $ -1.2B
2019-08-15 04:00 AM Balance of Trade $-1.7B



Indonesia Posts Largest Trade Gap on Record

Indonesia’s trade deficit widened to USD 2.50 billion in April 2019 from a USD 1.67 billion gap in the same month a year earlier and compared to a market consensus of a USD 0.5 billion gap. It was the largest trade gap on record, as exports tumbled 13.1 percent year-on-year while imports fell at a softer 6.58 percent.

Exports from Indonesia slumped 13.10 percent from a year earlier to USD 12.60 billion in April 2019, worse than an expected 7.15 percent fall and after a downwardlly revised 9.4 percent decrease in the prior month. It was the sixth straight month of decrease in exports, as sales of non-oil and gas products dropped by 10.98 percent to USD 11.86 billion and those of oil and gas plunged by 37.06 percent to USD 0.74 billion.

Compared to the previous month, exports dropped 10.80 percent, as sales non-oil and gas products declined 8.68 percent while those oil and gas slumped by 34.95 percent. By categories, outbound shipments fell for mineral fuel (-6.37 percent); animal/nabat fats and oils (-19.11 percent); electric machinery/equipment (-18.25 percent); iron and steel (-14.05 percent), and jewelery (-54.28 percent). By contrast, sales rose for footwear (8.66 percent); rubber and rubber goods (15.10 percent); various chemical products (6.64 percent); pulp (21.39 percent), and fertilizer (66.36 percent).
 
Sales decreased to: Japan (-10.84 percent); the US (-0.01 percent); Thailand (-2.09 percent); Germany (-3.15 percent); India (-12.83 percent); Taiwan (-2.34 percent); South Korea (-18.89 percent); the Netherlands (-8.75 percent), and Singapore (-34.73 percent). Meanwhile, outbound shipment increased to: China (3.22 percent); Australia (6.14 percent); Italy (20.73 percent), and Malaysia (3.15 percent). 

Imports declined by 6.58 percent from a year earlier to USD 15.10 billion in March, following an upwardlly revised 7 percent drop in the prior month and compared to market expectations of a 12.1 percent fall. It marked the fourth straight month of yearly drop in inbound shipments, amid efforts from the government to reduce purchases and help manage the country's current account deficit. Purchases of oil and gas declined by 3.99 percent to USD 2.24 billion while those of non-oil and gas fell 7.02 percent to USD 12.86 billion. 
 
Compared to the prior month, imports surged by 12.25 percent, with purchases of non-oil and gas rose 7.82 percent while those of oil and gas jumped by 46.99 percent. Imports went up for all categories: raw material (12.09 percent); consumption goods (24.12 percent); and capital goods (6.78 percent). Among major trading partners, imports decreased from: the US (-0.89 percent); India (-3.55 percent); Thailand (-10.41 percent), and Singapore (-0.40 percent). Meantime, imports increased from China (22.91 percent); Japan (2.46 percent); South Korea (4.62 percent); Taiwan (9.50 percent); Germany (5.61 percent); Malaysia (3.05 percent); the Netherlands (34.79 percent); Australia (29.91 percent), and Italy (23.25 percent).
 
Considering the first four months of the year, the trade balance recorded a deficit of USD 2.56 billion, compared with a deficit of USD 1.41 billion in the same period of 2018.
 
 


Statistics Indonesia l Chusnul Ch Manan | chusnul@tradingeconomics.com
5/15/2019 8:17:10 AM



Indonesia Trade Last Previous Highest Lowest Unit
Balance of Trade -2501.90 670.80 4641.92 -2501.90 USD Million [+]
Current Account -6966.00 -9147.60 3795.00 -10125.60 USD Million [+]
Current Account to GDP -3.00 -1.60 4.80 -6.80 percent [+]
Imports 15098.80 13451.10 18297.10 21.00 USD Million [+]
Exports 12596.90 14121.90 18647.83 30.00 USD Million [+]
External Debt 387592.08 376839.29 387592.08 119594.10 USD Million [+]
Terms of Trade 105.95 106.35 117.70 77.43 Index Points [+]
Foreign Direct Investment 107.90 99.00 112.00 35.40 IDR Trillion [+]
Remittances 2713.92 2748.51 2835.19 1202.00 USD Million [+]
Tourist Arrivals 1338666.00 1264055.00 1536489.00 548821.00 [+]
Gold Reserves 78.50 78.50 96.45 73.09 Tonnes [+]
Crude Oil Production 772.00 776.00 1720.00 747.00 BBL/D/1K [+]
Terrorism Index 4.54 4.55 6.55 3.92 [+]
Weapons Sales 102.00 94.00 102.00 1.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Indonesia Balance of Trade

Since the 1970’s Indonesia has been recording consistent trade surpluses due to robust exports growth. However, from 2012 to 2014 the country started recording trade deficits, as exports shrank due to slowdown in the global economy and fall in commodity prices. In 2015, trade balance swang again to surplus due to almost 20 percent fall in imports. In recent years, the biggest trade deficits were recorded with China, Thailand, Japan, Germany and South Korea. Indonesia records trade surpluses mainly with India, United States, and Malaysia. . This page provides the latest reported value for - Indonesia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Indonesia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-2501.90 670.80 4641.92 -2501.90 1960 - 2019 USD Million Monthly




Country Last Previous
Argentina 1183.00 Mar/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.39 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1429.00 Mar/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


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