Indonesia's Trade Surplus Increased in June, According to UOB

Enrico Tanuwidjaja, an economist with UOB Group, evaluates the most recent trade balance data for Indonesia.

July 19, 2022 - 12:11 PM 325 views

Indonesia's Trade Surplus Increased in June, According to UOB

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© Indonesia's Trade Surplus Increased in June, According to UOB

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Enrico Tanuwidjaja, an economist with UOB Group, evaluates the most recent trade balance data for Indonesia.

Important Takeaways

“In comparison to an all-time high of USD7.5 billion in April 2022, Indonesia's trade surplus in June was third largest at USD5.1 billion.”

“Exports increased by 40.7 percent year over year in June (up from 27.0 percent in May), far exceeding the market forecast of 30.3 percent y/y. Similarly, imports accelerated to 22.0 percent y/y in June (up from 30.7 percent y/y in May), well above the 20.1 percent y/y market consensus.”

"Amid a significantly bigger than anticipated trade surplus in the Mar-Jun quarter," Indonesia "may achieve another small current account surplus in 2Q22."

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