Indonesian Trade Minister Mari Pangestu said on Monday that total full-year exports would probably show a contraction of 20 percent from a year ago while non-oil exports could fall about 15 percent.
‘In general, the trend is still for continued import contraction,’ she told Reuters in an interview, adding that for exports, ‘month by month the contraction is getting less and less.’
Indonesia has seen a pick-up in imports of capital goods due to the realisation of capacity and new investment, a sign of economic green shoots, she said.
However, this pick-up was not likely to be inflationary, she said, because it was being offset by the appreciation of the rupiah currency.
Indonesia’s statistics bureau is due to release September trade data later on Monday.