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View all search resultsTrade plunges amid weaker demand from China
Indonesian exports plummeted last month, yet the country maintained its trade surplus because imports dropped even further, as a feeble global economy takes its toll on the exchange of goods and services.
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Trucks drive past stacks of containers at Tanjung Priok Port in Jakarta on Feb. 3, 2023. (Reuters/Ajeng Dinar Ulfiana)
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ndonesian exports plummeted last month, yet the country maintained its trade surplus because imports dropped even further, as a feeble global economy takes its toll on the exchange of goods and services.
Statistics Indonesia (BPS) reported on Monday that the country’s exports exceeded imports by US$3.94 billion in April, making for a 36-month trade surplus.
“The surplus in the trade value in April 2023 was wider than in the preceding month due to a deeper drop in imports than in exports,” said BPS official Imam Machdi, adding that exports had plunged by 29.4 percent year-on-year (yoy) while imports were down 22.32 percent yoy.
The latest trade slowdown continues a downward trend seen since February.
Indonesia booked exports of $19.29 billion in April, down 17.62 percent from March, while imports tanked 25.45 percent on the month to $15.35 billion.
Imam said the prices of key export commodities such as palm oil, coal and nickel had risen in monthly terms but were down on the year, which may mark the end of the commodity windfall Indonesia enjoyed throughout 2022.
