Since 2015, Indonesia's automotive trade balance has shown a surplus.

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10/08/2018 18:27 WIB

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Falling import demand due to a sluggish domestic economy and a rising export market share resulted in a trade surplus for the national automotive sector.

Indonesia's Vehicle Export/Import Values and Trade Balance (2010-2017)

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Indonesia's Vehicle Export/Import Values and Trade Balance (2010-2017)

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Indonesia's automotive trade balance has recorded a surplus since 2015. Data from Bank Indonesia shows that in 2015, exports of four-wheeled vehicles and above reached US$2.67 billion, while imports were only US$2.2 billion. As a result, Indonesia's automotive trade balance had a surplus of US$465.98 million. This surplus continued in 2016, reaching US$671 million.

The trade surplus continued into 2017, although at a smaller value of US$188.6 million. This was due to vehicle exports reaching US$3.26 billion and imports reaching US$3.07 billion.

Amidst the fall in global crude oil prices and a sluggish domestic economy impacting consumer purchasing power, demand for imported cars decreased. Simultaneously, the national automotive industry sought new markets to boost car exports, resulting in a consecutive three-year surplus in the national trade balance.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."