- Analytics
- News and Tools
- Market News
- Indonesia: Trade surplus started the week in a firm note – UOB
Indonesia: Trade surplus started the week in a firm note – UOB
Economist at UOB Group Enrico Tanuwidjaja reviews the latest trade balance results in Indonesia.
Key Takeaways
“Mining-related exports surged 121.5% m/m to drive Jan’s exports to reach USD22.3bn (16.4% y/y gain). Oil & gas (OG) exports also surged 65.0%, driven mainly by raw and processed oil exports as well as gas exports. Meanwhile, non-oil imports’ contraction of 2.8% y/y pushed for a more subdued total imports growth of just 1.3% in Jan as OG imports continued to grow robustly at 30.4%. Trade balance in Jan continued to remain high at USD3.9bn, virtually unchanged from Dec’s level and beating consensus of USD3.3bn.”
“Key non-oil exports destination are China, US, and Japan with the export values at USD5,3bn, USD1.9bn, and USD1.9bn respectively while key imports origins are from China (USD5.3bn), Japan (USD1.4bn), and Thailand (USD0.9bn).”
“Today’s trade figures mark a strong start for 2023 performance whereby trade surplus continued to remain at an elevated level. Against a record year in 2022 where annual trade surplus stood at historic high of USD54.5bn (monthly average of USD4.5bn), this year’s annual performance may relatively be lower as we expect easing global commodity prices to weigh down on the overall non-OG and in turn, total exports.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
