Enrico Tanuwidjaja, Economist at UOB Group, reviewed the latest trade balance results in Indonesia. Key Quotes “Indonesia posted a surprise trade surplus of USD2.34bn in February 2020 (vs. Bloomberg consensus of -USD125mn, and vs. January’s deficit of -USD637mn – revised figure), as non-oil and gas exports surged while non-oil and gas import contracted amidst disruption to the global value chain due to the coronavirus (COVID-19) outbreak. There are also some base effects given very weak exports in Feb-Apr 2019 (average: -11.5% yoy during those weak months). This marks the biggest trade surplus since September 2011.” “Indonesia’s exports rose by 11.0% y/y in February vs. January’s -2.2% (revised figure), driven by the increase of non-oil and gas exports which grew by 14.6% y/y vs. 1.0% growth in the same period.” “Indonesia’s imports contracted by 5.1% y/y in February 2020 vs. -4.8% in the previous month. Imports levels in December was recorded at USD11.6bn, with the non-oil and gas imports amounting to USD9.9bn (February’s -7.4% y/y vs. January’s -7.9%).” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP: Cheap Around Current Levels Even With The Ongoing Uncertainty – SocGen Kenny Fisher 2 years Enrico Tanuwidjaja, Economist at UOB Group, reviewed the latest trade balance results in Indonesia. Key Quotes “Indonesia posted a surprise trade surplus of USD2.34bn in February 2020 (vs. Bloomberg consensus of -USD125mn, and vs. January’s deficit of -USD637mn – revised figure), as non-oil and gas exports surged while non-oil and gas import contracted amidst disruption to the global value chain due to the coronavirus (COVID-19) outbreak. There are also some base effects given very weak exports in Feb-Apr 2019 (average: -11.5% yoy during those weak months). This marks the biggest trade surplus since September 2011.” “Indonesia's exports rose by 11.0%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
