Indonesia: Merchandise exports increase in May
Merchandise exports rose 1.0% in annual terms in May (April: -29.4% year-on-year). Meanwhile, merchandise imports jumped 14.4% in annual terms in May (April: -22.3% yoy), marking the strongest reading since October 2022.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.4 billion surplus in May (April 2023: USD 3.9 billion surplus; May 2022: USD 2.9 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 51.2 billion surplus in May, compared to the USD 53.7 billion surplus in April.