Indonesia: Merchandise exports gain steam in May
Merchandise exports rose 1.5% over the same month last year in May (April: +0.9% year-on-year). May’s result marked the strongest outturn since February 2023. Meanwhile, merchandise imports declined 6.7% in annual terms in May (April: +6.0% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.4 billion surplus in May (April 2024: USD 3.7 billion surplus; May 2023: USD 1.8 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 42.5 billion surplus in May, compared to the USD 40.8 billion surplus in April.