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View all search resultsStrong exports bolster Indonesia’s monthly trade surplus
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A container terminal is pictured on Feb. 12 at Tanjung Priok Port, North Jakarta. (Reuters/Willy Kurniawan)
I
ndonesia achieved a trade surplus for a 63rd consecutive month as the country’s exports exceeded imports by US$4.17 billion in July.
This figure surpassed both June's $4.10 billion and the modest $0.47 billion surplus logged in July 2024.
While a sharp 34.13 percent year-on-year (yoy) drop in mining exports weighed on overall growth, a robust 21.98 percent surge in outgoing shipments of manufactured goods, including palm oil (CPO), jewelry and machinery, propelled total exports by 9.86 percent yoy to $24.75 billion in July.
Imports, meanwhile, contracted 5.86 percent yoy to $20.57 billion, led by a 29.36 percent plunge in oil and gas products.
This strength in manufactured exports offset softer commodity prices and was supported by a seasonal rise in new orders, according to Bank Danamon Indonesia’s analysis.
Three key sectors, coal, CPO and its derivatives, as well as iron and steel, collectively accounted for 28.86 percent of Indonesia’s non-oil and gas exports in the January through July period.
Iron and steel exports grew 10.29 percent, while coal exports fell 21.74 percent. CPO and CPO derivatives rose by a strong 32.92 percent.
