Indonesia imports exports hit all-time high in March

Statistics Indonesia (BPS) said that exports rose 44.36 percent year-on-year (you) to US$26.50 billion, the highest ever since the agency began logging such data in 1993. Surging exports were led by coal, metals and crude palm oil (CPO). Imports rose 30.85 percent yoy to $21.97 billion led by an increase in raw materials and capital goods, as a result of rising oil prices and rising industry demand as companies expand operations.

Center of Economic and Law Studies (CELIOS) director Bhima Yudhistira said the recent easing of mobility curbs in South Korea helped boost Indonesia exports. However, Bhima outlined three risks for Indonesian export volumes going forward, namely rising raw material prices, interest rate hikes and supply chain snags.