Macro Analysis /
Indonesia

ID : Economic - Nov 2021 trade

    CGS-CIMB
    15 December 2021
    Published byCGS-CIMB

    Trade surplus fell to a five-month low of US$3.5bn in Nov on accelerating imports (+18.6% mom) and slower gains in exports (+3.7% mom). Import gains were broad-based across consumption goods, capital goods and raw materials, suggesting domestic demand recovery is broadening. Indonesia’s current account is poised to slip into a deficit in 2022 as domestic demand lifts imports against slowing exports due to easing commodity prices.