FX.co ★ Indonesia's Export Growth Slows Sharply in June 2024

Indonesia saw a dramatic slowdown in export growth in June 2024, with the growth rate plummeting to 1.17%, down from 2.86% in May 2024. The new figures were updated on July 15, 2024, highlighting a significant deceleration in the country's export sector.

This year-over-year comparison reveals that while May showed a more robust growth reflecting a better performance compared to the same month a year ago, June's figures mark a critical halving of growth speed. This trend signals potential challenges for Indonesia's economy, particularly in its trade dynamics moving forward.

Market analysts are closely monitoring these shifts, as they may indicate deeper underlying issues either within the global market context affecting Indonesian exports or domestic constraints impacting production capacities. The stark contrast between May and June's performance is now under scrutiny as policymakers plan their next steps.