Indonesia: Merchandise exports contract in August
Merchandise exports plummeted 21.2% over the same month last year in August, on the heels of July’s 18.1% decline. Meanwhile, merchandise imports dived 14.8% in annual terms in August (July: -8.3% yoy).
Nevertheless, the merchandise trade balance improved from the previous month, recording a USD 3.1 billion surplus in August (July 2023: USD 1.3 billion surplus; August 2022: USD 5.8 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 44.0 billion surplus in August, compared to the USD 46.7 billion surplus in July.