Indonesia posted its weakest export growth in five months in August as shipments to the United States were hit by tariffs introduced that month.
Exports rose 5.78% year-on-year to US$24.96 billion, slightly above the 5.5% growth projected by economists in a Reuters poll. However, the pace marked a slowdown, signalling that US-bound goods were affected after Washington imposed tariffs on August 7.
Exporters had rushed to front-load shipments in previous months ahead of the deadline, helping to bolster earlier trade surpluses. The US, a key market for Indonesia, set a tariff rate of 19% on Indonesian products — lower than the 32% initially flagged in April but still a significant drag on trade.
Imports fell 6.56% year-on-year to US$19.47 billion in August, a sharper drop than the 1.6% decline forecast.
This brought Indonesia’s trade surplus to US$5.49 billion, exceeding market expectations of US$4.0 billion.
Statistics Indonesia is expected to release September inflation figures and other economic indicators later on Wednesday.
Reuters
