Indonesia Balance of Trade

Last Release

Oct 31, 2024

Actual

2,475.2

Units In

USD Million

3,230.9

Frequency

Monthly

Next Release

Dec 16, 2024

Time to Release

29 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
7,564.9 Apr 2022	-2,329.13 Jul 2013	896.42 USD Million	1960-2024	Statistics Indonesia

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. .

Latest Updates

Indonesia's trade surplus narrowed to USD 2.47 billion in October 2024, down from USD 3.47 billion in the same month a year earlier and below market estimates of USD 3.05 billion. This marks the smallest trade surplus since June, mainly due to a surge in imports. Exports rose by 10.25% yoy, marking the seventh consecutive month of growth and the fastest pace since January 2023, well above market expectations of a 3.84% gain, supported by higher palm oil prices. Export growth was primarily driven by increased shipments to the US (28.49%), India (8.04%), the ASEAN (18.00%), and the EU (25.68%). Meanwhile, imports soared by 17.49%, much faster than market forecasts of a 7.1% rise and an 8.55% gain in the previous month, the fastest pace since September 2022, boosted by strong domestic demand leading up to year-end festivities. For the 1st ten months of 2024, the trade balance registered a surplus of USD 34.04 billion, with exports and imports advancing by 1.33% and 5.25%, respectively.