02 Jun 2025 | News & Feature

Trade: Sinking through the fog

  • Indonesia trade surplus plunged to USD 158.8 Mn in April 2025, driven by significant rise in imports (+21.84% YoY), outpacing exports growth (+5.76% YoY).
  • Imports has increased in all categories: capital goods, consumer goods, and raw materials. With notable increase in machinery, electrical equipment, and steel.
  • Imports surge originated from Singapore (+47.74% YoY) and China (+53.71% YoY), indicating either a potential transshipment activity or dumping of excess inventory.
  • The longer-term outlook remains highly uncertain, with risk of global slowdown still looming as Trump’s 10% base tariff appear set to stay.