Indonesia Balanza Comercial

Indonesia's trade surplus widened to USD 3.45 billion in January 2025 from USD 2.0 billion a year earlier, exceeding market expectations of a USD 1.91 billion gain. The increase was primarily driven by an unexpected decline in imports at the start of the year. Purchases fell 2.67% year-on-year, defying forecasts of a 9.95% rise and reversing sharply from an 11.07% jump in December. The drop was attributed to several factors, including the depreciation of the rupiah against the US dollar, weaker purchasing power, and the impact of holidays during the month. Meanwhile, exports grew 4.88%, marking the tenth consecutive month of expansion but at the slowest pace in seven months. The figure also fell short of expectations for a 6.99% increase. For the full year 2024, Indonesia's trade surplus narrowed to USD 31.04 billion from USD 36.89 billion in the previous year.