Indonesia Balance of Trade

Last Release

Feb 29, 2024

Actual

867

Units In

USD Million

1,999.6

Frequency

Monthly

Next Release

Apr 16, 2024

Time to Release

30 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
7,564.9 Apr 2022	-2,329.13 Jul 2013	871.87 USD Million	1960-2024	Statistics Indonesia

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. .

Latest Updates

Indonesia's trade surplus narrowed sharply to USD 0.87 billion in February 2024 from USD 5.40 billion in the same month of 2023, far below market forecasts of USD 2.32 billion. It was the smallest trade surplus since last May, as exports fell while imports surged. Shipments shrank 9.45% from a year earlier to a 10-month low of USD 19.31 billion, the ninth straight month of contraction and the steepest decline since last October, faster than forecasts of a 6.5% fall. The contraction in exports came amid an economic slowdown in trading partners, with exports to China and Japan plunging by 19.26% and 13.47%, respectively. Meanwhile, imports jumped by 15.84% year-on-year, the fastest growth in 16 months, exceeding market forecasts of a 9.3% gain, boosted by domestic demand ahead of the holy month of Ramadan and Eid-el-Fitr. In the first two months of the year, the trade balance posted a surplus of USD 2.87 billion, with exports and imports falling by 8.81% and 0.29%, respectively.