Indonesia Macro Update - Trade Balance 17 Sep 2024

KBVS MACRO UPDATE
Tuesday, 17 September 2024

Trade Surplus Improves, but Not Enough to Support the Rupiah in The Long Term

The trade surplus for Jul-Aug ‘24, amounting to only USD3.36 bn raising concerns over a potential current account deficit in 3Q24.

Looking ahead, we expect the trade surplus to remain positive as commodity prices recover and demand for products increases. However, challenges remain in promoting the placement of DHE domestically and diversifying both products and trading partners to achieve a "fair" and balanced trade for Indonesia, while also maintaining the long-term stability of the Rupiah.

 

Regards,
Fikri C Permana - KBVS Research

Unduh