According to the latest trade data published by the Indonesian Statistics Bureau, the country posted a bigger-than-expected trade surplus in January but both imports and exports disappointed.
Indonesia reported a trade surplus of $1.96 billion vs. $1.68 billion expected and $2.10 billion previous. The imports and exports came in at -6.49% and12.24% respectively vs. -2.77% and -13.59% expectations and -0.47% and +14.63% respective priors.
FX implications
USD/IDR sits at fresh one-month lows of 13,896.50 on mixed Trade Balance data. The cross sheds 0.48% on a daily basis.
About Indonesia’s Trade Balance
The Trade Balance released by Statistics Indonesia is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. If a steady demand in exchange for Indonesian exports is seen, the Rupiah will receive a positive (or bullish) effect, while a low reading is seen as negative (or bearish).
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