Indonesian exports of completely built up (CBU) car units surged in the first quarter (Q1) of 2017, a development that may indicate that global economic growth is improving (specifically in the export destination nations). Based on data from the Indonesian Automotive Industry Association (Gaikindo) Indonesia exported 56,371 units in Q1-2017, up 53.4% year-on-year (y/y) from 36,750 units in the same period one year earlier. Meanwhile, Indonesian exports of completely knocked down (CKD) car units in the first quarter of 2017 fell 35.2% (y/y) to 17,546 units, while shipments of car components dropped 14.7% (y/y) to 1.16 million units over the same period.Imports of CBU units into Indonesia, on the other hand, fell 14.2% (y/y) to 19,654 units in Q1 this year, implying Indonesia has a growing surplus on the CBU trade balance.
