Indonesia's trade surplus is anticipated to shrink in November as exports are poised to contract once again, while imports are expected to show slight growth, according to a recent Reuters poll conducted with 20 economists between December 8 and December 14.
The poll projects a trade surplus of $3.05 billion for November, down from $3.48 billion in the previous month. Indonesia, renowned for its rich natural resources and status as a major exporter of commodities such as coal, palm oil, and nickel products, has faced challenges in recent months due to declining commodity prices and the broader global economic slowdown, which has dampened demand.
Exports in November are predicted to decline by 9.36% year-on-year, following a 10.43% drop in October. This ongoing contraction in exports reflects the impact of reduced commodity prices and the subdued global economic environment on Indonesia's trade performance.
On the import front, November is expected to witness a modest increase of 0.20%, a positive shift from the 2.42% decline reported in the preceding month. The marginal uptick in imports suggests a potential rebound in domestic demand and economic activity.
Indonesia's trade dynamics are closely monitored as the country navigates economic challenges and seeks to maintain a balance in its trade relationships. The narrowing trade surplus highlights the need for policy adjustments to address the evolving economic landscape.
As Indonesia continues to adapt to changing global conditions, policymakers and businesses alike will be closely watching trade developments in the coming months to gauge the resilience and adaptability of the nation's economy.