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. source: Statistics Indonesia

Indonesia recorded a trade surplus of 867 USD Million in February of 2024. Balance of Trade in Indonesia averaged 873.27 USD Million from 1960 until 2024, reaching an all time high of 7564.84 USD Million in April of 2022 and a record low of -2331.12 USD Million in April of 2019. 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 - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Indonesia recorded a trade surplus of 867 USD Million in February of 2024. Balance of Trade in Indonesia is expected to be 2700.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia Balance of Trade is projected to trend around 4000.00 USD Million in 2025 and 2000.00 USD Million in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-15 04:00 AM
Balance of Trade
Jan $2.01B $3.3B $2.99B $3.1B
2024-03-15 02:00 AM
Balance of Trade
Feb $0.87B $2.00B $2.32B $2.5B
2024-04-22 04:00 AM
Balance of Trade
Mar $0.87B $ 1.5B


Related Last Previous Unit Reference
Balance of Trade 867.00 1999.53 USD Million Feb 2024
Exports 19307.20 20494.06 USD Million Feb 2024
Exports YoY -9.45 -8.20 percent Feb 2024
Imports 18440.20 18494.53 USD Million Feb 2024
Imports YoY 15.84 0.36 percent Feb 2024
Tourist Arrivals YoY 1036037.00 927746.00 Feb 2024

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. .
Actual Previous Highest Lowest Dates Unit Frequency
867.00 1999.53 7564.84 -2331.12 1960 - 2024 USD Million Monthly

News Stream
Indonesia Trade Surplus Smallest in 9 Months
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.
2024-03-15
Indonesia Logs Smallest Trade Surplus in 6 Months
Indonesia posted a trade surplus of USD 2.01 billion in January 2024, falling short of market forecasts of a USD 2.99 billion surplus and narrowing from USD 3.88 billion in the same month of 2022. It was the smallest trade surplus since last July, as exports dropped while imports grew. Shipments shrank 8.06 percent from a year earlier to an eight-month low of USD 20.52 billion, the eighth straight month of decline, amid an economic slowdown in trading partners. Meanwhile, imports rose by 0.36 percent year-on-year to USD 18.51 billion, but below forecasts of a 1.3% growth. In 2023, the country's trade surplus narrowed sharply to USD 36.93 billion from a record high of USD 54.46 billion in 2022 amid the global commodity boom, with exports shrinking by 11.33% and imports falling by 6.55%.
2024-02-15
Indonesia Trade Surplus Larger than Estimated
Indonesia posted a trade surplus of USD 3.3 billion in December 2023, exceeding market forecasts of a USD 1.92 billion surplus but narrowing from USD 3.96 billion in the same month of 2022 as exports fell more than imports. Shipments dropped 5.76 percent from a year earlier to USD 22.41 billion, the seventh straight month of decline but the softest drop in sequence, amid an economic slowdown in trading partners and moderating commodity prices. Meanwhile, imports unexpectedly fell by 3.81 percent year-on-year to USD 19.11 billion, missing forecasts of a 0.4% gain, the ninth time of contraction in imports for the year. For the 2023 full year, the country's trade surplus narrowed sharply to USD 36.93 billion, with exports shrinking by 11.33% and imports by 6.55% from a record high of USD 54.46 billion surplus in 2022 amid the global commodity boom.
2024-01-15