Indonesian trade ready to be financed

The fall of the rupiah means that international banks are falling over themselves to provide trade finance for larger exporters.

The yin and the yang of IndonesiaÆs economic woes is that whilst importers are twiddling their thumbs, Indonesian exporters are scrambling to fill orders. Indonesian exports rose 5.2% month on month to $4.6 billion in February alone, widening the trade surplus to $2.53 million, the highest figure in seven months. Leading the charge are non-oil and gas commodities, which accounted for 75% of the growth in exports. IndonesiaÆs former Minister of Industry and Trade, Yusuf Kalla predicted that this yearÆs exports would exceed the target figure of $60 billion, despite the ineffective banking system, which is a strong indication of how buoyant the export market is.

Indonesian banks have taken rather spectacular dives...

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