Indonesia: Trade surplus shrinks markedly in May - UOB – by pabspiovano Indonesia TradeBalance Banks
UOB Group's Economist Enrico Tanuwidjaja and Junior Economist Agus Santoso assess the latest trade balance figures in Indonesia.Trade surplus in May eased sharply to just USD0.4bn from almost USD4bn in Apr, the lowest position in 2023-to-date as imports rose sharply. The easing external demand from Indonesia’s main trading partners and lower commodity prices underpinned the lower trade surplus in May.
OG imports still contracted by 6.5% y/y, but much lower than previous month's contraction of 22.5%, while non-OG imports grew by 18.9% in May, much higher than Apr’s contraction of 22.3%. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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