Indonesia's import numbers shrink beyond predictions

Posted on September 22, 2023   |  

Indonesian imports, containing raw materials and capital goods, saw a more substantial-than-expected decline.

August witnessed Southeast Asia's largest economy achieve a trade surplus of $3.12 billion, doubling the forecasted amount and significantly surpassing July's $1.31 billion.

Imports took a notable dip of 14.77% to reach $18.88 billion, outstripping the predicted 9.33% decline. 

The decline in crude oil imports was particularly sharp, at approximately 39%.

Indonesia's exports for August witnessed a significant drop of 21.21%, totaling $22 billion which was less severe than the forecasted 22% drop.

These economic patterns underscore Indonesia's evolving trade landscape and its adaptability to global market conditions, impacting a range of sectors, including commodities and imports.