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Economist at UOB Group Enrico Tanuwidjaja and Haris Handy reviewed the latest trade data in Indonesia.

Key Quotes

“Indonesia posted another month of trade surplus of USD2.3bn in August 2020, narrowing from July’s USD3.2bn as export fell by 4.6% from the previous month as shipments of precious metal and palm oil plunged, while imports grew 2.7% m/m, notably on consumer (+7.3%m/m) and rawauxiliary goods (+5.0% m/m).”

“From January to August of this year, Indonesia booked a cumulative USD11.0bn trade surplus which was significantly higher than the USD1.8bn deficit recorded over the same period last year. Going forward, the reinstating curbs to control its COVID-19 outbreak in Indonesia’s capital city Jakarta might slightly depress imports. Nevertheless, exports may continue to rise on the back of global economic recovery.”