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Indonesia recorded a current-account surplus of US$13.2 billion in 2022, or 1.0% of GDP, up from US$3.5 billion in 2021. The rupiah strengthened 0.3% to 15,155 per dollar.
Bank Indonesia attributed the surplus mainly to higher commodity exports, while the financial account recorded a deficit.
A current-account surplus driven by commodity exports supports the rupiah and lowers feed import costs. Indonesia's export earnings also depend on palm oil and other commodity prices.
cnbcindonesia.comPutu Agus PransuamitraFeb 20, 2023Not enough comparable past events yet for a historical read.
After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
