- Indonesia trade surplus declined slightly to USD 3.12 Bn. Exports increased by 14.05% YoY (2.58% MoM) while imports had rebounded to 2.3% YoY (5.18% MoM).
- Increase in cooking oils exports offset the continued decline in coal and metal exports.
- Continued decline in consumer goods imports despite upcoming Ramadhan reveals a pattern of weak consumer demand.
- BI will likely cut rates again this year to support growth but may opt to wait for additional data in the short-term.
