Indonesia's Trade Surplus Projected to Widen Despite Export Weakness
Indonesia's trade surplus is expected to increase to $3.06 billion in November, driven by a 3.2% growth in imports despite a continued export contraction. The rupiah's depreciation against the U.S. dollar is a key factor influencing these dynamics.
Insights:
Indonesia's trade surplus is forecast to expand to $3.06 billion in November 2024, up from $2.4 billion in October, according to a Reuters poll of 15 economists. This increase is anticipated despite ongoing challenges in the export sector, which is projected to contract by 0.53% year-over-year, a slight improvement from the 2.31% contraction observed in October. The official trade data is scheduled for release on January 5, 2025.
