Indonesia's trade deficit widened to USD 1.16 billion in January 2019 from USD 0.76 billion in the same month a year earlier and worse than market consensus of a USD 0.97 billion gap. It was the fourth straight month of trade gap, as exports dropped 4.70 percent year-on-year while imports decreased at a softer 1.83 percent. Balance of Trade in Indonesia averaged 738.59 USD Million from 1960 until 2019, reaching an all time high of 4641.92 USD Million in December of 2006 and a record low of -2329.13 USD Million in July of 2013.

Balance of Trade in Indonesia is expected to be -300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Indonesia to stand at 431.00 in 12 months time. In the long-term, the Indonesia Balance of Trade is projected to trend around 300.00 USD Million in 2020, according to our econometric models.

Indonesia Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-15 04:00 AM Balance of Trade $-1.82B $0.31B $-0.17B $ -1.7B
2018-12-17 04:00 AM Balance of Trade $-2.05B $-1.77B $-0.83B $ -1.6B
2019-01-15 04:00 AM Balance of Trade $-1.1B $-1.97B $-0.93B $0.9B
2019-02-15 02:00 AM Balance of Trade $-1.16B $-1.03B $-0.97B $-1.5B
2019-03-15 04:00 AM Balance of Trade $-1.16B
2019-04-15 04:00 AM Balance of Trade
2019-05-15 04:00 AM Balance of Trade

Indonesia Trade Gap Larger than Estimated in January

Indonesia's trade deficit widened to USD 1.16 billion in January 2019 from USD 0.76 billion in the same month a year earlier and worse than market consensus of a USD 0.97 billion gap. It was the fourth straight month of trade gap, as exports dropped 4.70 percent year-on-year while imports decreased at a softer 1.83 percent.

Imports declined 1.83 percent from a year earlier to USD 15.03 billion in January, following an upwardlly revised 1.72 percent rise in the prior month, compared to market expectations of a 1.05 percent drop. It marked the first yearly drop in inbound shipments since June 2017, amid efforts from government to reduce purchases and help manage the country's current account deficit. Purchases of oil and gas plunged by 25.22 percent to USD 1.69 billion while those of non-oil and gas went up 2.21 percent to USD 13.34 billion.  

Compared to the prior month, imports dropped by 2.19 percent, with purchases of gas tumbled by 16.58 percent while those of non-oil and gas showed no growth. Imports went down for both capital goods (-12.10 percent) and consumption goods (-16.75 percent) while those increased for raw material (2.08 percent). Among major trading partners, imports decreased from: the US (-1.97 percent); China (-6.69 percent); India (-14.74 percent); and Thailand (-3.53 percent). Meantime, imports increased to Japan (2.70 percent); South Korea (2.39 percent); Taiwan (20.68 percent); Singapore (0.60 percent); Germany (41.45 percent); the Netherlands (9.83 percent); Malaysia (7.64 percent); Australia (13.55 percent), and Italy (39.86 percent).
Exports fell 4.70 percent from a year earlier to USD 13.87 billion, worse than market consensus of a 2.54 percent fall and after a downwardly revised 3.57 percent drop in the prior month. Sales of non-oil and gas products dropped by 4.50 percent to USD 12.63 billion while those of oil and gas declined by 6.72 percent to USD 1.23 billion. 
Compared to the previous month, exports went down 3.24 percent, as sales oil and gas slumped by 29.30 percent while those non-oil and gas products went up by 0.38 percent. By categories, outbound shipments fell for: nickel (-41.04 percent); machinery and mechanical aircraft (-22.42 percent); electric machinery and equipment (-12.81 percent); chemical products (-11.06 percent); and mineral fuel (-1.76 percent). By contrast, sales increased for: ore, metal crust and metal ash (37.08 percent); organic chemicals (32.12 percent); iron and steel (10.84 percent); footwear (9.85 percent), and
vehicles and parts (7.70 percent).
Sales fell to: Singapore (-24.51 percent);  Malaysia (-20.33 percent); the Netherlands (-9.08 percent); India (-9.07 percent); Italy (-8.58 percent), South Korea (-4.16 percent); and Taiwan (-2.48 percent). On the other hand, sales increased to the US (2.00 percent); China (2.06 percent); Japan (3.18 percent); Thailand (31.47 percent); Germany (2.63 percent), and Australia (5.55 percent).

Statistics Indonesia l Chusnul Ch Manan |
2/15/2019 4:47:27 AM

Indonesia Trade Last Previous Highest Lowest Unit
Balance of Trade -1159.50 -1031.70 4641.92 -2329.13 USD Million [+]
Current Account -9148.00 -8625.00 3795.00 -10125.60 USD Million [+]
Current Account to GDP -3.00 -1.60 4.80 -6.80 percent [+]
Imports 15028.50 15364.90 18297.10 21.00 USD Million [+]
Exports 13869.00 14333.20 18647.83 30.00 USD Million [+]
External Debt 376839.29 359793.63 376839.29 119594.10 USD Million [+]
Terms of Trade 104.24 106.37 117.70 77.43 Index Points [+]
Foreign Direct Investment 99.00 89.10 112.00 35.40 IDR Trillion [+]
Remittances 2711.00 2802.00 2802.00 1202.00 USD Million [+]
Tourist Arrivals 1405536.00 1148644.00 1536489.00 548821.00 [+]
Gold Reserves 78.50 78.50 96.45 73.09 Tonnes [+]
Crude Oil Production 787.00 787.00 1720.00 764.00 BBL/D/1K [+]
Terrorism Index 4.54 4.55 6.55 3.92 [+]
Weapons Sales 102.00 94.00 102.00 1.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

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. . 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 - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1159.50 -1031.70 4641.92 -2329.13 1960 - 2019 USD Million Monthly

Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -1415.36 Jan/19
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 2415.21 Jan/19
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1388.18 Jan/19
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18