Indonesia’s Trade Surplus Surges to $4.33 Billion in March

Indonesia announced a substantial trade surplus of $4.33 billion for March, exceeding expectations and marking the highest surplus in four months. This positive result was driven by stronger-than-anticipated export figures and weaker import growth.

Analysts, in a poll, had projected a surplus of $2.64 billion for March. Data indicates that the March surplus represents the largest since November 2024.

The nation’s exports have demonstrated resilience, recovering from lows experienced following the conclusion of a commodity boom in 2022. However, future export performance may be influenced by a potentially less favorable global trade environment due to U.S. tariff policies.

The U.S. has declared a 32% tariff on products originating from Indonesia; however, this has been temporarily suspended for 90 days.

It’s been suggested that these U.S. tariffs could potentially diminish Indonesia’s economic growth by as much as 0.5 percentage points.

Since the prior week, several Indonesian ministers have engaged in discussions in Washington, D.C., with the objective of reaching an agreement to avert the imposition of the tariff.

Official figures released on Monday reveal that exports experienced a 3.16% increase year-over-year in March, reaching $23.25 billion. This contrasts with economists’ projections of a 3.40% decrease, according to the poll.

The statistics bureau reported that imports amounted to $18.92 billion, reflecting a 5.34% increase compared to the previous year. This figure is lower than the predicted 6.6% rise indicated by the poll.