Jakarta, CNBC Indonesia- The market consensus gathered by CNBC Indonesia from 11 institutions estimates that the trade balance surplus in October 2023 will reach USD 3.0 billion as commodity prices continue to decline.
Head of the Center of Industry, Trade and Investment INDEF, Andry Satrio Nugroho, assessed that the decline in the trade balance surplus was the result of a decline in exports amidst the weakening economy of China as Indonesia’s main trading partner.
Apart from that, the weakening prices of palm oil and coal commodities will also put pressure on exports, although on the other hand, import performance will also decline so that the trade balance will still be in surplus even though its value is weakening.
On the other hand, Deputy Chair for Public Policy at Apindo, Danang Girindrawardana, highlighted the condition of the trade balance surplus which is currently still dominated by the commodity sector so it has no effect on the manufacturing sector. Therefore, this trend does not have much impact on the real sector.
What is the review regarding Indonesia’s trade balance like? For complete details, see Bramudya Prabowo’s dialogue with the Head of the Center for Industry, Trade and Investment INDEF, Andry Satrio Nugroho and the Deputy Head of Public Policy for Apindo, Danang Girindrawardana in Squawk Box, CNBC Indonesia (Wednesday, 15/11/2023)