Indonesia’s exports increased by 5.58% year on year (YoY) to US$ 24.12 billion. While on a monthly basis there was a decrease of 2.46%. “November’s export value reached US$ 24.12 billion,” said BPS Deputy for Production Statistics M. Habibullah in a press conference, Thursday (12/15/2022).
Export developments were influenced by changes in international commodity prices which tended to decline compared to last year and the rupiah exchange rate which continued to depreciate. The market consensus compiled by CNBC Indonesia from 11 institutions estimates a trade balance surplus in November 2022 of US$ 4.4 billion. The surplus is lower compared to October 2022 which reached US$ 5.67 billion. The consensus also shows that exports will grow 8.98% (YoY) while imports will increase 5.04%.
If the trade balance returns to print a surplus, then Indonesia will have recorded a surplus for 31 consecutive months. For the record, the export value in October 2022 reached US$ 24.81 billion or jumped 12.30% (YoY). Imports were recorded at US$ 19.13 billion or shot up 17.44% (YoY).
December 15, 2022, CNBC Indonesia