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Indonesia: Trade surplus widened further in June – UOB

The UOB Group economist Enrico Tanuwidjaja evaluates the latest figures of the balance of trade in Indonesia.

Key points

“Indonesia achieved a trade surplus of $5.1 billion in June, the third highest compared to the all-time high of $7.5 billion in April 2022.”

“Exports soared 40.7% yoy in June (vs. 27.0% in May), significantly higher than the market consensus of 30.3% yoy. Meanwhile, imports similarly accelerated to 22.0% yoy in June (vs. to 30.7% YoY in May), just above the market consensus of 20.1% YoY.”

“Indonesia could post another small current account surplus in the second quarter amid a much stronger-than-expected trade surplus in the Mar-Jun period.”

Source: Fx Street

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