Indonesia Balanza Comercial

Indonesia's trade surplus narrowed sharply to USD 0.15 billion in April 2025, down from USD 2.72 billion in the same month a year earlier and well below expectations of a USD 3.04 billion surplus. It was the smallest trade surplus since April 2020, when the country last recorded a trade deficit, driven mainly by a surge in imports. Exports rose by 5.76% yoy, in line with forecasts and accelerating from a 3.16% gain in March. The export growth was mainly boosted by a jump in shipments to ASEAN countries (25.81%) and the US, surging 18.43%, as factories rushed to ship goods during a 90-day pause on new US tariffs announced by the Trump administration. Meanwhile, imports jumped 21.84% yoy to a four-month high of USD 20.59 billion, significantly above estimates of a 7.75% rise, marking the fastest pace since September 2022, after growing 5.34% in March, amid easing global trade tensions. For the first four months of 2025, the trade balance posted a USD 11.07 billion surplus.