The trade balance surplus penetrated USD 5.1 billion, in the midst of sloping CPO commodity prices. Indonesia’s exports in June reached USD 26.1 Billion (+21.3% MoM), supported by high CPO exports; while Indonesia’s imports are valued at USD 21 Billion (+12.9% MoM). NHKSI Research sees this trade balance surplus as having a positive impact on GDP growth in 2Q22. Meanwhile, the sloping price of CPO commodities amid a potential global recession, impacting Indonesia’s CPO dominated exports, and has the opportunity to reduce the trade balance surplus. Last week, the JCI fell 1.3%, with foreign investors recording a net sell of IDR 1.6 trillion. Meanwhile, the technology sector led the sectoral decline, or fell nearly 2%.
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